Worldwide Express (the "Company") is a franchisor that provides technology enabled asset-light logistics services including small parcel shipping, less-than-truckload freight brokerage and truckload freight brokerage through key strategic partnerships with UPS and other freight carriers. The Company focuses on serving small and medium sized businesses, leveraging its network of independently-owned franchise offices and company-owned offices to provide a high-touch, in person customer service platform. Central to Worldwide Express’ value proposition is its long-term contract with UPS. During our ownership period it was one of only two authorized resellers of UPS small parcel shipping.
Quad-C acquired Worldwide Express in 2013 in partnership with management. The Management team reinvested a substantial portion of their proceeds in connection with the transaction and owned ~15% of the business at closing. Over the course of Quad-C’s investment period, the Company made 24 acquisitions and, in doing so, provided numerous other managers with the opportunity to invest in the Company.
With the support of Quad-C, management executed on a well defined value creation plan.
Developed and executed on strategy of acquiring franchisees to create direct presence in the Company’s markets, control salesforce growth, improve ROIs on corporate investments and remove impediments to an external acquisition program.
Acquired and integrated 24 companies in 18 months, with a total value of $345 million.
Helped management develop strategic organic growth initiatives, including the expansion of the truckload (“TL”) brokerage offering, and built out regional freight centers in Dallas, Chicago and Atlanta with the objective of aggressively growing the TL business.
Built out a strong management team to support the Company's continued growth. Key management positions added include SVP – General Counsel, Chief Operating Officer and Chief Technology Officer.
Designed corporate structure reporting relationships and sales territories to accommodate future growth. This work created the foundation upon which to build a considerably larger business, as management has successfully done.
Invested heavily in IT systems and people to drive improved efficiencies, controls, consistency and redundancy.
Field relations improved greatly via operational initiatives to drive greater franchisee support, strategic acquisition initiatives, IT investments and strong management hires.
As a result of the Company’s investment and growth, EBITDA quadrupled over the life of the investment.
After exceeding our growth plans and establishing the framework for continued future success, Quad-C exited Worldwide successfully in 2017.