0001104659-14-038259.txt : 20140514 0001104659-14-038259.hdr.sgml : 20140514 20140513191133 ACCESSION NUMBER: 0001104659-14-038259 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20140513 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140514 DATE AS OF CHANGE: 20140513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Echo Global Logistics, Inc. CENTRAL INDEX KEY: 0001426945 STANDARD INDUSTRIAL CLASSIFICATION: ARRANGEMENT OF TRANSPORTATION OF FREIGHT & CARGO [4731] IRS NUMBER: 205001120 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34470 FILM NUMBER: 14838843 BUSINESS ADDRESS: STREET 1: 600 WEST CHICAGO AVENUE STREET 2: SUITE 725 CITY: CHICAGO STATE: IL ZIP: 60610 BUSINESS PHONE: 1-800-354-7993 MAIL ADDRESS: STREET 1: 600 WEST CHICAGO AVENUE STREET 2: SUITE 725 CITY: CHICAGO STATE: IL ZIP: 60610 8-K 1 a14-12724_18k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 13, 2014

 

ECHO GLOBAL LOGISTICS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

(State or other jurisdiction

of incorporation)

 

001-34470

(Commission

File Number)

 

20-5001120

(I.R.S. Employer

Identification No.)

 

600 West Chicago Avenue

 

 

Suite 725

 

 

Chicago, Illinois

 

60654

(Address of principal executive offices)

 

(Zip Code)

 

(800) 354-7993

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 7.01                                         Regulation FD*

 

On May 13, 2014, Echo Global Logistics, Inc. issued a press release announcing the acquisition of One Stop Logistics, Inc. as well as revised guidance for the 2014 fiscal year. A copy of this press release is furnished with this Current Report on Form 8-K and attached hereto as Exhibit 99.1.

 

 Item 9.01                                      Financial Statements and Exhibits.

 

(d)                                                   Exhibits:

 

Exhibit No.

 

Description

99.1*

 

Press Release dated May 13, 2014.

 


*The information furnished under Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

ECHO GLOBAL LOGISTICS, INC.

 

 

 

 

 

Dated: May 14, 2014

By:

/s/ Kyle Sauers

 

Name:

Kyle Sauers

 

Title:

Chief Financial Officer

 

3



 

Exhibit Index

 

Exhibit No.

 

Description

99.1*

 

Press Release dated May 13, 2014

 


*The information in Exhibit 99.1 is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

4


EX-99.1 2 a14-12724_1ex99d1.htm EX-99.1

Exhibit 99.1

 

GRAPHIC

 

Echo Global Logistics, Inc. Acquires One Stop Logistics, Inc.

 

CHICAGO, IL — (Marketwired) — 05/13/14 — Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology enabled transportation and supply chain management services, has acquired all of the assets of One Stop Logistics, Inc. (“One Stop”), a transportation brokerage headquartered in Watsonville, CA. Effective immediately, One Stop will begin doing business as Echo Global Logistics, Inc.

 

Founded in 1998, One Stop is a non-asset provider of both Less-Than-Truckload (“LTL”) and Truckload (“TL”) solutions with offices in Northern California and Florida.  One Stop brings to Echo strong sales talent and a solid network of shippers and carriers. Steve Brown, a 15 year veteran of One Stop, will be Echo’s newest Regional Vice President leading all operations of the newly acquired entity.  All existing management and employees will remain with Echo subsequent to the acquisition.

 

“One Stop is a profitable and impressive operator in the market for over the road transportation solutions,” said Douglas R. Waggoner, Chief Executive Officer of Echo Global Logistics.  “With this acquisition, we continue to position Echo for further growth by expanding our national coverage and leveraging our technology, our carrier network and our service offering.”

 

“We are pleased to be the latest addition to the Echo organization,” stated Steve Brown.  “We look forward to the additional growth opportunities available with the broad portfolio of services offered by Echo Global Logistics. Current One Stop clients and new clients alike will benefit from the full range of technology-enabled transportation solutions we are now able to provide.”

 

During the prior twelve months, One Stop grew total revenue by approximately 14%, resulting in $50.7 million in gross revenue and EBITDA of $4.3 million, after adjusting for non-recurring expenses.  The total purchase price was $37.3 million, of which $19.8 million was paid at closing, $13.8 million is payable in January 2015 and $3.7 million is payable in one year pursuant to the terms of an earn-out arrangement.

 

“It is expected that the One Stop acquisition will be accretive to earnings for the second half of the year, with immaterial impact in the second quarter after considering integration costs.  Effective with this transaction, we are raising 2014 gross revenue guidance to a range of $1.07 to $1.13 billion.”, stated Kyle Sauers, Chief Financial Officer of Echo Global Logistics.

 

About Echo Global Logistics

 

Echo Global Logistics, based in Chicago, is a leading provider of technology-enabled transportation and supply chain management services. Echo maintains a proprietary web-based technology platform that compiles and analyzes data from its network of over 26,000 transportation providers to serve its clients’

 



 

transportation and supply chain management needs. Echo services clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.

 

INVESTOR RELATIONS CONTACT:

Suzanne Karpick, Echo Global Logistics, (312) 784-7414

 

MEDIA CONTACT:

Hanni Itah, SSPR, (847) 415 — 9324

 

###

 


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