Archives



Feature, Freight News, Logistics, Business, Forwarding


EV Cargo and Fast Forward to merge

[ March 23, 2022   //   ]

EV Cargo has acquired and will merge with Netherlands-headquartered Fast Forward Freight. EV Cargo has become the sole shareholder of Fast Forward Freight (and its trading subsidiaries), with the current owners of Fast Forward Freight becoming shareholders of EV Cargo. Fast Forward Freight will be rebranded as EV Cargo and operations will be merged.

The move adds more than $170 million of revenue to EV Cargo, to around $1.7 billion and more than triples EV Cargo’s European workforce to exceed 400. It will more than double EV Cargo’s global air freight uplift to above 100 million kilos and “significantly increases depth and capability in Netherlands, Belgium, France, Germany and the UK, as well as expansion into Greece and Switzerland.”

EV Cargo said it would add several thousand customers in industries such as automotive, aerospace, marine engineering, oil and gas, pharmaceuticals and retail.

EV Cargo was created in 2018 by Hong Kong-based private equity investment group EmergeVest. Its previous acquisitions include Allport Cargo Services and the Palletforce network along with logistics firms CM Downton, Jigsaw and NFT.

EV Cargo founder and chief executive, Heath Zarin (pictured), said: “Fast Forward Freight shares our commitment to providing innovative technology-enabled solutions and has a strong history of providing supply chain control towers to its customer base of world leading brands. This transaction helps us  grow the EV Cargo global network, adding excellent colleagues, capabilities and customers.  We look forward to welcoming Fast Forward Freight to the EV Cargo family.” Founder and CEO of His counterpart at Fast Forward Freight, Marc Terpstra, added: “EV Cargo is focused on providing an innovative technology platform, blending proprietary and industry leading technology based on a deep understanding of its customers. Fast Forward Freight shares this same focus.  Our combination with EV Cargo will provide increased opportunities for our people and expanded solutions for our customers. We are very excited to join the EV Cargo journey.”

Tags: