EV Cargo has launched its fifth business division – EV Cargo Solutions – as part of a wider strategy to turn the $1 billion 3PL into a $2.5 billion global logistics service provider.
Born out of Jigsaw, sister business to CM Downton which EV Cargo-backers Emergevest acquired in March 2018, EV Cargo Solutions will offer three new products: on-demand warehousing and consolidation, logistics and supply chain consultancy and integrated end-to-end supply chain solutions for global key accounts.
Current Jigsaw MD Andy Humpherson will lead the new and expanded business, which has access to over 175 UK operating centres, including the current Jigsaw partner haulier network and the Palletforce member network. It will offer on-demand warehousing and short-term storage and handling from a network of ambient, chilled and bonded facilities across the UK and Europe.
Consultancy services will including network and flow of goods optimisation, customer service strategies, transport mode selection, fleet and load utilisation and initiatives to reduce carbon footprint
Speaking exclusively to Logistics Manager EV Cargo chief executive Heath Zarin said that adding EV Cargo Solutions to its Express, Logistics, Global Forwarding and Technology divisions was part of the wider plan to turn the $1 billion business into a $2.5 billion global logistics provider.
“We have a vision for this business and what we want to achieve: that is transforming logistics into a technology industry. We are managing supply chains for some of the world’s leading brands,” he said, citing Refresco and InBev. “We are a little bit more than $1 billion of revenue today and our growth target is to reach $2.5 billion of revenue.
“That growth will be a combination of organic growth and entirely new acquisitions, but the time period for that $2,5 billion has shifted, but we are not going to lower our sights! We will continue to invest in the UK, it is a very important market for us. We will invest more in Asia and in the US. If you look at the global share of supply chain and logistics businesses we need to represent that.”
EV Cargo has been acquisitive in recent years, picking up software firm Adjuno, freight-forwarder Allport Cargo Services, ambient distribution 3PL CM Downton, temperature-controlled 3PL NFT Distribution, 4PL Jigsaw and the Palletforce pallet network, before formally launching as EV Cargo in November 2018.
Last year EV Cargo Express, which trades as Palletforce, rolled-out an artificial intelligence (AI) technology – Alliance Sense – that predicts if any consignments are at risk of service problems.
“We are 18 months old as a company, but I call us a $1billion start-up and our vision is to transform logistics into a technology industry,” Zarin told Logistics Manager. “It is a major piece of what we are about. We view ourselves as a market leader and as an innovator. We created EV Cargo as a growth platform to execute this strategy.”
Come back to Logisticsmanager.com tomorrow for more from our exclusive interview with Zarin, including IPO plans and its Covid-19 strategy.