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ITS Logistics ("ITS"), a recently realized portfolio company of McNally Capital, is mentioned in the latest Logistics Report from The Wall Street Journal: “Shippers Find New Supply-Chain Hurdles at Alternate Ports”.
article Highlights
"ITS Logistics has moved truckers from Jacksonville, Fla., to Charleston, S.C., to serve shippers who wanted to avoid the Port of Savannah, Ga., after ships started backing up offshore in August and September. It has considered moving other drivers to Houston but doesn’t take such steps lightly.
'For the drivers and for us it is taxing,' said Paul Brashier, vice president of drayage and intermodal at ITS Logistics, based in Reno, Nev. 'When you reposition folks hundreds of miles away and they’re used to running back and forth locally and they’re home every night that’s a definite challenge.'”
McNally Capital acquired ITS in January 2015 and sold the leading third-party logistics provider in June 2021. The investment stemmed from the firm’s investment thesis in third-party logistics and was consistent with the firm’s strategy of partnering with founders and management owners to provide them with family capital. During the partnership, ITS experienced significant growth – achieving nearly $500 million of revenue in 2020 and a ranking of 35 out of more than 20,000 freight brokers in North America.
Berger, Paul. "Shippers Find New Supply-Chain Hurdles at Alternate Ports" The Wall Street Journal, 21 Oct 2021. www.wsj.com/articles/shippers-find-new-supply-chain-hurdles-at-alternate-ports-11635076801/