Sale of Worldwide Express Marks Company Growth
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Transcript of Sale of Worldwide Express Marks Company Growth
Sale of Worldwide Express Marks Company Growth
Sale of Worldwide Express Marks Company Growth
In August 2013, Worldwide Express announced that it had been sold. The deal capped off a three-year period of significant growth for the firm. Worldwide Express provides shipping to over 30,000 businesses of small and medium size through partnerships with UPS and over 55 carriers.
Sale of Worldwide Express Marks Company Growth
In 2009, Worldwide Express was acquired by an investment group including Rotunda Capital and Fidus Investment Corporation, and the group controlled the firm until the 2013 sale. Terms of the new deal were not disclosed , but Worldwide Express did announce that its revenues had grown from $192 million in 2009 to over $550 million in 2012. When the deal was made public, David Kiger, the company’s founder and chief executive officer, said he was extremely proud of the business and the work its team had done to generate its recent growth. Worldwide Express’ chief operating officer and president also made remarks, praising Fidus and Rotunda for their support and expressing excitement about the company’s new ownership structure.
