- Key milestone in EV Cargo’s corporate growth strategy, expanding European network and enabling further development opportunities
- Adds more than $170 million of revenue to EV Cargo, resulting in pro forma combined revenue of approximately $1.7 billion
- Grows EV Cargo employees to exceed 2,600 globally; more than triples EV Cargo’s European workforce to exceed 400
- More than doubles EV Cargo’s global air freight uplift to exceed 100 million kilograms
- Significantly increases depth and capability in Netherlands, Belgium, France, Germany and United Kingdom, as well as expansion into Greece and Switzerland
- Adds several thousand customers to EV Cargo across strategic industry verticals, such as automotive, aerospace, marine engineering, oil & gas, pharmaceuticals and retail
EV Cargo, a global technology-enabled supply chain management and logistics execution platform for the world’s leading brands, today announces it has acquired and will merge with Netherlands-headquartered Fast Forward Freight, as part of its previously announced corporate strategy to expand its worldwide footprint and grow its freight forwarding and supply chain services business. The transaction builds on EV Cargo’s successful track record of M&A execution that created its platform and enhances growth opportunities in European freight forwarding as well as trade lane development and expansion.
As part of the transaction, EV Cargo has become the sole shareholder of Fast Forward Freight (and its trading subsidiaries), with the current owners of Fast Forward Freight becoming shareholders of EV Cargo. Fast Forward Freight will be rebranded as EV Cargo and operations will merge to create new and greater opportunities for the combined workforce and solutions for customers.
Commenting on the transaction, Heath Zarin, Founder and CEO of EV Cargo, said: “EV Cargo is committed to its core values of growth, innovation and sustainability. Fast Forward Freight shares our commitment to providing innovative technology-enabled solutions and has a strong history of providing supply chain control towers to its customer base of world leading brands. This transaction helps us grow the EV Cargo global network, adding excellent colleagues, capabilities and customers. We look forward to welcoming Fast Forward Freight to the EV Cargo family.”
Marc Terpstra, Founder and CEO of Fast Forward Freight, added: “EV Cargo is focused on providing an innovative technology platform, blending proprietary and industry leading technology based on a deep understanding of its customers. Fast Forward Freight shares this same focus. Our combination with EV Cargo will provide increased opportunities for our people and expanded solutions for our customers. We are very excited to join the EV Cargo journey.”
Zarin added: “EV Cargo and Fast Forward Freight share a unique range of capabilities and value-added services enabling the creation of innovative and tailored customer solutions. Customers increasingly want end-to-end logistics solutions that improve supply chain resilience, transparency, reliability and effectiveness. This combination will unlock a further step-change in EV Cargo’s global service proposition.”