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Arrive Logistics Secures Over $300 Million Investment from ATL Partners to Support Accelerated Growth

28 Apr 2021
Category: News
Author: Evan Pundyk
Shape
Investment to Fund Technology, New Services and People

April 28, 2021 – Arrive Logistics (“Arrive”) and ATL Partners (“ATL”) announced today that an investor group led by ATL and its co-investors The Baupost Group, British Columbia Investment Management Corporation, and Temasek has made an investment into Arrive. Arrive is a leading freight brokerage that delivers unparalleled service to its network of shippers and carriers through its highly trained workforce and advanced proprietary technology platform. The investment includes over $300 million of capital through a combination of primary and secondary equity, resulting in the ATL led investor group acquiring a significant minority equity stake and becoming the single largest investor in the Company. As part of the transaction, seasoned logistics and technology executives Andrew Clarke, Jerome Lorrain and Paul Bell will join the Board of Directors with Andrew Clarke announced as chairman.

Since its founding in 2014, Arrive’s workforce, which is distributed across Austin, Texas (headquarters) and Chicago, has expanded from ten to more than one thousand employees. With only $50 million in raised capital, Arrive has grown from $530 million of revenue in 2019 to $810 million of revenue in 2020 and is on pace to exceed $1.2 billion in 2021. Previous funds were deployed to develop a proprietary transportation management system that utilizes machine learning and automation to eliminate waste in the supply chain, drive productivity, and enable best-in-class service to shippers and carriers. Proceeds from this investment will enable the Company to continue to invest in its proprietary technology, create new service offerings and expand the team.

“Partnering with investors like ATL with extensive industry experience, who believe in our vision and are confident in our ability to build a leading logistics organization is extremely exciting. Over the last seven years, we have focused on building a top-tier workforce, strong relationships with our partners and best-in-class technology,” said Matt Pyatt, CEO and Co-Founder of Arrive Logistics. “Today we are focused on innovation that empowers our partners, building digital solutions to provide a seamless experience designed for efficiency and asset-like services.” 

“We have followed the Arrive story since inception and have been incredibly impressed with the Company’s management team, track record of organic growth, and strong unit economics,” said Paul Teske, Co-Founder and Partner at ATL, and Kirby Fine, Partner at ATL. “Arrive has a proven model to deliver best-in-class services and technology to its customers and carriers, and we are excited to support the management team’s strategic vision over the coming years.”

 J.P. Morgan served as placement agent and Holland & Knight LLP served as legal counsel to Arrive. Credit Suisse served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal counsel to ATL. 

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About Arrive Logistics: 

Arrive Logistics is one of the fastest-growing freight brokerages in the nation, with exponential growth in both size and revenue yearly since its founding in 2014. Arrive’s team brings a unique sense of grit and determination to their work—focusing on the distinct needs of shippers and carriers and work to exceed their expectations every day with unparalleled service, seamless tech capabilities and custom solutions. With headquarters in Austin, TX and an office in Chicago, IL, Arrive has been recognized by Inc. as both a Best Workplace and an Inc. 5000 Fastest-Growing Private Company. Learn more at arrivelogistics.com. 

About ATL Partners: 

Founded in 2014, ATL Partners is a premier sector-focused private equity firm that invests in aerospace, transportation and logistics companies.  ATL brings deep sector expertise to its investment approach with nine investment professionals and seven Executive Board members who have decades of combined operating experience in each of ATL’s core sectors.  For more information about ATL Partners, visit www.atlpartners.com


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Scott Sandager,
Chief Administrative Officer 

Scott Sandager is the Chief Administrative Officer at Arrive Logistics. He joined Arrive in 2018, bringing over 14 years of logistics and brokerage experience, with expertise in project and change management, organizational design, talent development and customer satisfaction. Scott previously held many diverse roles of increasing responsibility with AFN, a Chicago-based freight brokerage.

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Matt Pyatt, Chief Executive Officer

Matt Pyatt is the Chief Executive Officer of Arrive Logistics. He co-founded Arrive with President Eric Dunigan in 2014 after building his career at Command Transportation. As CEO, he is responsible for overseeing the company’s financial health, strategic vision and culture, as well as building a scalable leadership team to support Arrive’s growth.

Tim Denoyer,
VP and Senior Analyst at ACT Research

As VP and Senior Analyst at ACT Research, Tim analyzes commercial vehicle demand and alternative powertrain development (i.e. electrification), and authors the ACT Freight Forecast, U.S. Rate and Volume Outlook. He previously spent fifteen years in equity research focused primarily on the transportation, machinery, and automotive industries, and co-founded leading equity research firm Wolfe Research.

Eric Dunigan,
President & Co-Founder

Eric Dunigan is the President of Arrive Logistics. He began his career at Command Transportation before co-founding Arrive with Matt Pyatt in 2014. As president, he is responsible for driving revenue and growth, as well as leading the Strategic Partnerships team — a veteran group of supply chain experts who work with Arrive’s customers to reimagine their shipping strategy.

Arrive Logistics VP of Market Intelligence David Spencer Headshot

David Spencer,
VP of Market Intelligence

David Spencer is the Vice President of Market Intelligence at Arrive Logistics. David joined Arrive in 2017 after spending six years at AFN focused on business intelligence. His department provides critical market data and expert analysis to internal teams and publishes monthly market updates for shippers and carriers under the Arrive Insights banner.

Andrew Clarke, Board Chair,
Arrive Logistics and Global Critical Logistics

Andrew Clarke is Board Chairman for Global Critical and DCLI, Inc., and a board member for Arrive Logistics and Element Fleet Management Corp. His 20 years of global transportation and logistics experience include time as CFO of C.H. Robinson, CEO of Panther Expedited Services, Inc. and SVP and CFO roles at Forward Air Corporation.

Dean Croke,
Principal Analyst
at DAT Freight and Analytics

Dean Croke is a Market Analyst at DAT Solutions, where he focuses on freight market intelligence and data analytics. His 35 years of experience with data analytics, transportation, supply chain management, mining and insurance risk management include time as co-founder of FleetRisk Advisors and in a number of other high-level roles with FreightWaves, Spireon, Lancer Insurance, Omnitracs Analytics (formerly Qualcomm) and more.

Asanka Jayasuriya,
CTO and Partner at 8VC

Asanka Jayasuriya is the CTO at 8VC. He is an accomplished engineering and product leader with 20+ years of experience in the cloud. He has a strong background in enterprise SaaS, PLG products, infrastructure, and security. Notably, he served as CTO and SVP of Engineering at SailPoint, leading their successful transition to the cloud and successful exit event. He also held senior leadership roles at InVision, Atlassian, and Amazon, driving growth, operational excellence, and innovation. At 8VC, Asanka works with the entrepreneurs and leaders in our portfolio as a virtual CTO supporting their growth.

Chad Eichelberger,
President at Reliance Partners

Chad Eichelberger is the President of Reliance Partners. Since 2015, he’s leveraged his extensive experience in risk management, compliance, best practices and contracts to lead the company’s logistics and truck insurance strategy and operations. Chad was previously the President of Access America Transport, where he led the company from $8M to over $600M in revenue.

Barry Conlon,
CEO & Founder at Overhaul

Barry Conlon is the CEO and founder of Overhaul, the global leader in active supply chain risk management and intelligence. With a remarkable career spanning over 30 years in supply chain security, he is widely regarded as a trailblazer in modern-day supply chain security standards and best practices.

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