Who Owns Echo Global Logistics Company?

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Who Owns Echo Global Logistics?

Echo Global Logistics transitioned to private ownership in 2021 following its acquisition by The Jordan Company. This marked a significant shift from its status as a publicly traded company.

Founded in 2005, Echo Global Logistics is a technology-driven provider of transportation and supply chain solutions. The company offers services across truckload, LTL, and intermodal transportation, serving a broad client base.

As of 2025, Echo Global Logistics operates as a privately held entity under The Jordan Company. This ownership structure influences its strategic decisions and operational flexibility in the logistics sector. For a deeper understanding of the external factors affecting the company, consider an Echo Global Logistics PESTEL Analysis.

Echo Global Logistics was co-founded in February 2005 by Bradley Keywell and Eric Lefkofsky. Their backgrounds in tech startups significantly influenced the company's innovative approach to the logistics sector. While initial equity distribution details are not public, the company quickly attracted venture capital and angel investment.

Founding Year

Echo Global Logistics was established in February 2005.

Co-Founders

The company was co-founded by Bradley Keywell and Eric Lefkofsky.

Early Backing

The business model attracted early financial support from venture capital firms and angel investors.

Key Investors

New Enterprise Associates and Commonwealth Capital Ventures were significant early institutional investors.

Series D Funding

A Series D funding round on August 9, 2006, raised $17.3 million.

Board Involvement

Eric Lefkofsky served on the board of directors until October 2012.

The company's early growth was significantly bolstered by strategic investments from firms like New Enterprise Associates and Commonwealth Capital Ventures. These early stakeholders recognized the potential of Echo Global Logistics' technology-driven approach to freight forwarding. While specific details regarding initial ownership agreements, such as vesting schedules or founder exit strategies, are not publicly disclosed, the company's trajectory indicates a strong foundation built on early financial backing and strategic partnerships. Understanding the Competitors Landscape of Echo Global Logistics can provide further context on the market dynamics during its formative years.

Early Ownership Landscape

The initial ownership structure of Echo Global Logistics was shaped by its co-founders and early venture capital investors.

• Co-founders Bradley Keywell and Eric Lefkofsky established the company in 2005.
• Venture capital firms provided crucial early-stage funding.
• New Enterprise Associates and Commonwealth Capital Ventures were key early institutional investors.
• A Series D funding round in August 2006 secured $17.3 million.

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The ownership landscape of Echo Global Logistics has seen significant transformations, most notably its transition from a publicly traded entity to a privately held company. These shifts have been driven by strategic acquisitions and market dynamics, fundamentally altering its shareholder base and corporate structure.

Echo Global Logistics' journey from public to private ownership marks a pivotal moment in its corporate history. The company's Initial Public Offering (IPO) on October 2, 2009, saw it listed on the NASDAQ stock exchange under the ticker symbol 'ECHO'. This event allowed the company to raise approximately $80 million in net proceeds from the sale of 5,700,000 shares at $14.00 each, funds primarily allocated to repaying early investors and reducing existing debt. Before its privatization, notable institutional investors included The Vanguard Group and BlackRock Inc., indicating a significant presence of major asset managers among its Echo Global Logistics shareholders.

Key Ownership Transition

The most substantial change in Echo Global Logistics ownership occurred in September 2021 with the acquisition agreement by The Jordan Company (TJC), a global private equity firm. This transaction, valued at approximately $1.3 billion, led to Echo Global Logistics becoming a privately held company.

• Echo stockholders received $48.25 per share in cash.
• This represented a premium of about 54% over the closing share price on September 9, 2021.
• The acquisition was unanimously approved by Echo's Board of Directors.
• The transaction was finalized on November 23, 2021.
• As of February 2025, Echo Global Logistics is privately owned by funds managed by The Jordan Company.

This shift to private ownership has been instrumental in Echo Global Logistics' strategy, providing enhanced flexibility and resources for investments in its technology and data science capabilities. The backing from TJC, with its operational expertise, capital support, and sector knowledge, is expected to further bolster the company's Growth Strategy of Echo Global Logistics. Understanding who owns Echo Global Logistics is crucial for assessing its strategic direction and future growth prospects, especially given the significant capital and strategic oversight provided by its private equity owner.

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Following its acquisition by The Jordan Company in November 2021, Echo Global Logistics became a privately held entity. This transition significantly reshaped its board of directors, aligning its governance with the practices of its private equity owner. While specific board member details are less public now, the ultimate control rests with the new ownership structure.

The voting power within Echo Global Logistics is now concentrated with The Jordan Company, the private equity firm that acquired the company in November 2021. This means The Jordan Company holds the ultimate authority over strategic decisions and corporate governance. As a privately held company, there is no public information available regarding proxy battles or activist investor campaigns, which were more common when Echo Global Logistics was publicly traded.

Echo Global Logistics Governance Post-Acquisition

Since becoming a privately held company, Echo Global Logistics' corporate governance structure has been influenced by its owner, The Jordan Company. Key leadership roles remain, but the ultimate decision-making power now resides with the private equity firm.

• The Jordan Company is the controlling shareholder.
• Douglas Waggoner continues as CEO.
• Voting power is concentrated with the private equity owner.
• Public disclosures on governance are limited compared to its public trading days.

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The ownership landscape of Echo Global Logistics has seen a significant transformation over the past few years, culminating in its privatization. This shift has positioned the company for continued strategic expansion within the dynamic logistics sector.

The most impactful development in Echo Global Logistics' ownership structure was its acquisition by The Jordan Company in late 2021 for $1.3 billion, transitioning it from a publicly traded entity to a private one. This move aligns with a broader trend of private equity firms actively investing in the transportation and logistics industry. In 2024, private capital represented 53% of the value in logistics and industrial investments. Echo Global Logistics has continued its growth trajectory post-acquisition, notably acquiring Fastmore Logistics in November 2022 and FreightSaver in early August 2025, thereby expanding its market reach and client base. The global logistics market, valued at nearly $9 trillion in 2023, is projected to grow at a CAGR of 4-6% over the next eight years, making it an attractive sector for investment. In the latter half of 2024, private equity-backed transactions constituted 59% of all supply chain deals, a substantial increase from the previous year. This strategy of private equity-backed roll-ups is particularly common in fragmented markets like freight brokerage. While no immediate future ownership changes have been announced by Echo or TJC, the typical private equity model suggests a potential for a future sale or re-listing once strategic growth objectives are achieved. Echo's CEO, Doug Waggoner, has expressed optimism for the freight market, anticipating stabilization by late 2024 and an improved second half of 2025.

Privatization Impact

The acquisition by The Jordan Company in late 2021 marked a significant shift, moving Echo Global Logistics into private ownership. This privatization allows for a more focused execution of long-term growth strategies without the immediate pressures of public market reporting.

Strategic Acquisitions Post-Privatization

Following its privatization, Echo Global Logistics has actively pursued strategic acquisitions, including FreightSaver in August 2025 and Fastmore Logistics in November 2022. These acquisitions are key to expanding its service offerings and market presence.

Industry Investment Trends

Private equity's increasing involvement in the logistics sector is evident, with private capital accounting for 53% of transactions by value in 2024. This trend highlights the attractiveness of the logistics market, valued at nearly $9 trillion in 2023.

Future Ownership Outlook

While current ownership is stable under The Jordan Company, the private equity model often anticipates a future exit strategy. This could involve a sale to another entity or a potential re-listing on public markets once strategic goals are met, similar to Revenue Streams & Business Model of Echo Global Logistics.

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