Merger • Transportation

Worldwide Express Acquires GlobalTranz

On June 11, 2021, Worldwide Express acquired transportation company GlobalTranz from Providence Equity Partners and CPP Investments

Acquisition Context
  • This is Worldwide Express’ 2nd transaction in the Transportation sector.
  • This is Worldwide Express’ 2nd transaction in the United States.
  • This is Worldwide Express’ 1st transaction in Arizona.

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M&A Deal Summary

Date June 11, 2021
Target GlobalTranz
Sector Transportation
Buyer(s) Worldwide Express
Sellers(s) Providence Equity Partners
CPP Investments
Deal Type Merger

Target Company

GlobalTranz

Scottsdale, Arizona, United States
GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics, and expedited shipping services. GlobalTranz optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S. GlobalTranz was founded in 2003 and is based in Scottsdale, Arizona.
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Buyer Overview 1

Buyer

Worldwide Express

Dallas, Texas, United States

Category Company
Founded 1995
Sector Transportation
DESCRIPTION

Worldwide Express is a provider of third-party logistics services, including small parcel, LTL, FTL, and air freight shipping services to small and medium-sized businesses through a national presence of company-owned and franchise locations. Worldwide Express was established in 1995 and is based in Dallas, Texas.


Deal Context for Buyer #
Overall 2 of 2
Sector: Transportation 2 of 2
Type: Merger 2 of 2
State: Arizona 1 of 1
Country: United States 2 of 2
Year: 2021 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-17 Unishippers Global Logistics

Salt Lake City, Utah, United States

Unishippers Global Logistics is a provider of third party logistics services to small and medium-sized businesses through a network of nearly franchise locations and affiliate outlets. Unishippers Global Logistics is based in Salt Lake City, Utah.

Buy -

Seller Profiles 2

SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


Deal Context for Seller #
Overall 92 of 102
Sector: Transportation 2 of 2
Type: Merger 6 of 7
State: Arizona 2 of 2
Country: United States 63 of 69
Year: 2021 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 DoubleVerify

New York, New York, United States

DoubleVerify is a provider of online media verification, offering a comprehensive suite of advertising verification monitoring, blocking, and compliance solutions. DoubleVerify was incorporated in 2008 and is based in New York, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-29 Sweetwater

Fort Wayne, Indiana, United States

Sweetwater is an online retailer of musical instruments and audio gear. Sweetwater retailer serving musicians, recording studios, broadcast, education, and houses of worship. Sweetwater was founded in 1979 and is based in Fort Wayne, Indiana.

Buy -
SELLER
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


Deal Context for Seller #
Overall 17 of 37
Sector: Transportation 1 of 2
Type: Merger 2 of 3
State: Arizona 1 of 1
Country: United States 11 of 22
Year: 2021 7 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Crestone Peak Resources

Denver, Colorado, United States

Crestone Peak Resources is an energy company that specialized in the acquisition, exploration, and production of oil and gas. Crestone Peak Resources was formed in 2016 and is based in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 51job

Shanghai, China

51job is a provider of integrated human resource services in China. With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development. 51job was founded in 1998 and is based in Shanghai, China.

Buy $5.7B