CHARLOTTE, N.C.--(BUSINESS WIRE)--Ridgemont Equity Partners today announced that it entered into a definitive agreement to acquire Worldwide Express from affiliates of Quad-C Management. As part of the transaction, Ridgemont will merge its portfolio company, Unishippers Global Logistics, with Worldwide Express to form a new entity called Worldwide Express Global Logistics. The combination of Worldwide Express and Unishippers will create the largest U.S. non-asset based third party logistics provider of parcel and freight services to the small and medium-sized business (“SMB”) segment. Ridgemont will be the lead equity sponsor, alongside certain co-investors, affiliates and members of executive management. The transaction has received HSR approval and is expected to close in the first quarter of 2017. Financial terms of the transaction were not disclosed.
Worldwide Express and Unishippers are both non-asset based third party logistics providers to small and medium sized businesses. The companies offer a diverse suite of freight solutions including small parcel, less-than-truckload, truckload and air freight services through a number of strategic national and regional carrier relationships. Worldwide Express Global Logistics will have a network of 308 offices across the United States, including both company-owned and franchise locations, serving over 90,000 customers.
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