Evans
Enabling Rapid Expansion of a Superior Service Engine
In 2012, AEA’s Enterprise Partners (“AEA Enterprise”) fund invested in The Evans Network of Companies (“Evans”), a family-owned asset-light logistics provider focused on supporting agents and drivers that coordinate and haul intermodal freight. Evans provides national sales, purchasing and other back-office support services to a network of agents and independent contractor drivers who serve thousands of shippers.
In concert with our Executive Partners, The Clarendon Group, AEA Enterprise identified Evans on a proprietary basis as a leading outsourced service provider playing in the intermodal market, one of the fastest growing segments of the transportation and logistics industry. During AEA Enterprise’s ownership, the team worked closely with management to augment the existing management team, build a strategic board, institutionalize agent and driver recruiting efforts, add more services, invest in industry-leading technology and safety systems, and develop an acquisition program which led to two highly accretive acquisitions. As a result of these efforts, Evans’ organic growth rate increased significantly and the company leveraged its core service competencies to meaningfully expand into adjacent segments such as truckload and brokerage.
Evans emerged as the market leader and continues to attract agents and customers through its innovation and growing, unmatched array of services.
Created Value
13%
Organic revenue growth
2x
Growth in nationwide agent network
2
Highly accretive acquisitions completed
3
Outside board members added with deep experience in transportation and logistics
“The market was changing – driven by the increasing demand for technology solutions, rising insurance costs, heightening compliance requirements and the need for much broader support for agents – and we wanted to capitalize on that opportunity. AEA Enterprise provided us with the capital, experience and resources to execute on acquisitions, invest in our team, and support long-term growth.”