Cambridge Capital recently combined portfolio companies Simple Logistics, a transportation brokerage specializing in service-sensitive refrigerated truckload freight, and Everest Transportation Systems, a transportation brokerage focused on dry truckload and drayage moves.
The combination will enable both companies to expand scale, capture operational efficiencies, and offer an enhanced suite of services, including cross-selling opportunities and a more robust carrier network, positioning the combined business for greater growth in the years ahead, Cambridge reported.
Customers and carriers will experience the enhanced financial strength of the combined platform with Cambridge’s backing, the company added.
“This combination represents a pivotal opportunity for Simple Logistics,” Simple CEO Steve Spoerl said in a news release. “We are excited to join forces with Everest and leverage their extensive domestic and offshore infrastructure, technology, and market reach. The synergies between our two companies will ensure continued growth while providing exceptional service and creating new opportunities for all.”
The combination marks a strategic milestone for Everest, which has been redefining operational efficiency through its tech-enabled platform and unique “owned and operated” offshore labor model. By integrating Simple’s specialized capabilities in reefer logistics, Everest will diversify its portfolio and continue to enhance capabilities for a broader client base.
“Steve and his team have built a strong reputation in the industry since 2012, and their expertise and network will be invaluable as we work together to serve a growing and diverse customer base,” said Phil Weber, Everest COO and co-founder.
In August 2021, Cambridge completed a majority investment in Everest, a founder-owned freight brokerage. Everest specializes in full truckload, drayage, intermodal, hazmat, expedited and volume partials, with a focus on stable, non-cyclical industries such as food and beverage. Everest has achieved success in part because of its level of automation, but also due to its unique offshore labor force, which helps reinforce its North America operations.
In partnership with Everest's management team, Cambridge has executed multiple value creation initiatives. Cambridge completely re-platformed Everest to leverage leading cloud-based software applications and tools in an integrated fashion, optimizing both internal workflows and customer experience. Additionally, Cambridge recruited a leading independent board chairman, Chris Pickett, who built Coyote Logistics from inception until a $1.8 billion exit to UPS.
“The combination of Everest and Simple Logistics creates a sizeable, highly diversified asset-light freight brokerage with leadership across multiple key modes and market niches, poised to capitalize on the freight market upswing and operational benefits from the model we built with Everest,” said Ben Gordon, Cambridge founder and managing partner.
