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The Great Logistics Industry Consolidation with Chris Wofford
Chris Wofford and Joe Lynch discuss the great logistics industry consolidation. Chris is the Founder and Managing Partner of Wofford Advisors LLC, a strategic advisory boutique that provides best-in-class strategic advice to clients competing in the global supply chain, which includes all forms of transport, logistics, B2B and B2C movements of goods — and increasingly tech-enabled consumer and industrial services.
About Chris Wofford
Chris Wofford is the Founder and Managing Partner of Wofford Advisors LLC, an independent, strategic advisory boutique focused on M&A transactions in B2B and B2C movement of goods in the global supply chain. Chris started his career in the M&A group at DLJ-LA under Ken Moelis. His career path is unusual for having spent 10 years as a M&A banker prior to becoming the lead coverage officer in T&L. As a senior banker, he has run numerous industry groups at major investment banks for the past 30 years. He has executed over $120bn of buyside and sellside M&A assignments, including numerous cross-border transactions. Chris earned an MBA, Finance & Strategy, Booth School of Business from University of Chicago and a BA, History & East Asian Studies at Oberlin College. While at Oberlin Chris was All-Conference & Most Valuable Offensive Lineman, Varsity Football Team; Twice All-Conference & Captain, Varsity Lacrosse Team.
About Wofford Advisors
Wofford Advisors is an independent advisory firm focused on strategic idea generation and M&A transaction execution within the global supply chain and tech-enabled services sectors. We have a proven track-record of delivering successful outcomes for large public companies, family-owned businesses, as well as financial sponsors. Our team's M&A expertise ranges in size from $50 million to $50 billion enterprise value and encompasses contested and cross-border transactions. Founded by Chris Wofford, former head of Transport & Logistics Investment Banking at large financial institutions, such as Wells Fargo, Bank of America and Macquarie Capital, the firm reunites former colleagues from the earlier Bear Stearns M&A days, where Chris was a Senior Managing Director. During his 30+ year career, Chris has represented major corporations, such as UPS, FedEx, Ryder, Neptune Orient Lines (APL Logistics), GENCO, Norbert Dentressangle (now part of XPO/GXO), Ozburn-Hessey (now part of Geodis) and many others. Wofford Advisors' core services include Buyside Advisory, Sellside Advisory, Strategic Consulting and Complex and Cross Border Transactions. Please visit our website for a more comprehensive explanation of our credentials and capabilities.
Key Takeaways: The Great Logistics Industry Consolidation
- Chris Wofford is the Founder and Managing Partner of Wofford Advisors, an independent, strategic advisory boutique focused on M&A transactions in B2B and B2C movement of goods in the global supply chain.
- Chris Wofford explains what’s driving the great logistics industry consolidation, along with who is buying and who is selling.
- The great logistics industry consolidation is being driven by:
- The growth of ecommerce and home delivery (B2B shift to B2C)
- Tech disruption especially by companies backed by venture capital
- Low cost of borrowing money
- The hot logistics market is enabling financial buyers to buy, grow, and sell companies in a much faster time period (2-3 years instead of 5-7 years)
- Who is buying?
- Private equity companies who buy, grow, and sell logistics and transportation companies
- Larger companies that want to better serve their customers by adding new services, geographic footprint, capability, etc.
- Big logistics and transportation companies often face the choice of building new divisions/services or buying a company to gain those services
- Who is selling?
- Private equity companies who buy, grow, and sell logistics and transportation companies
- Entrepreneurs and family owned companies looking to exit
- Wofford Advisors was established as a platform to provide best-in-class strategic advice to clients competing in the global supply chain, which includes all forms of transport, logistics, B2B and B2C movements of goods — and increasingly tech-enabled consumer and industrial services.