The Logistics of Logistics 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 WoffordChris 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.