Worldwide Express Growth Culminates in Successful Sale of Company
Transaction follows revenue growth from $192 million to $550 million in four years.
DALLAS - Aug. 5, 2013 // PRNewswire // - Worldwide Express, the Dallas-based global package and freight shipping firm, announced today the successful sale of the company to a group of investors including a significant investment from the management team. Worldwide Express had been owned by a management-led group backed by Fidus Investment Corporation and Rotunda Capital since 2009. Financial terms were not disclosed.
Worldwide Express' team, led by founder and CEO David Kiger, saw the company through a period of remarkable growth for Worldwide Express and its 150-plus franchises -- from $192 million in revenues in 2009 to more than $550 million in 2012.
"I'm extremely proud of the work we have done to build this company," Kiger said. "Everyone at Worldwide Express, along with all our franchise partners, is laser-focused on bringing more affordable shipping options to small and midsize businesses. That focus is what led us to this point."
Tom Madine, Worldwide Express' president and chief operating officer, said that the company has only begun to realize its potential.
"Worldwide Express is well-positioned as we enter our next chapter of growth," Madine said. "We are appreciative of the support of Fidus Investment Corporation and Rotunda Capital, and we look forward to building upon our successes under the new ownership structure in the years ahead."
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About Worldwide Express
Worldwide Express is a global logistics company based in Dallas that has handled millions of package and freight shipments for more than 30,000 small to midsize businesses. With more than 150 franchises across the country, Worldwide Express is one of the largest authorized resellers of express shipping for UPS®, as well as a trusted freight partner to more than 55 carriers. To learn more, visit http://www.wwex.com.
SOURCE Worldwide Express