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ttnews.comBlueGrace Logistics, based in Riverview, Fla., announced that Warburg Pincus agreed to an investment of $255 million in the firm, Transport Topics reports. Also, that includes committed capital and direct investment to increase growth and acquisitions.

In addition, BlueGrace Logistics expects to increase employment in Los Angeles, Boston, Chicago, Tampa and other markets. Overall, they plan to hire 500 to 700 new employees, nearly doubling the current 370 employees.

Whether the new jobs include CDL trucking jobs remains undetermined.

“This investment gives a major shot of adrenaline to our already fast-growing operations,” BlueGrace CEO Bobby Harris said. “We help customers transform their shipping across the country. And, for me, it’s especially gratifying to see more employees come to the company and find a great career.”

Founded in 2009, BlueGrace developed a proprietary software platform.

Overall, it provides customers who need to ship goods with multiple offers from trucking companies. New York-based Warburg Pincus “has been a long-term investor in the technology-enabled logistics market. BlueGrace is a rapidly growing innovator in that industry,” said Alex Berzofsky, managing director of Warburg Pincus. “We see meaningful opportunities for continued growth for the company. And, we look forward to supporting the BlueGrace team.”

Read the rest of the Transport Topics story here.

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timesfreepress.com

Covenant Transport, one of the largest trucking companies hiring in the United States, celebrated a landmark anniversary this month, its 30th year in the industry. Covenant feted the occasion in style on the grounds of its Chattanooga, Tenn., headquarters. The Chattanooga Times Free Press was on hand to cover the event.

A carnival was gearing up in the tractor lot outside Covenant Transportation Group headquarters. A band tuned its instruments. Funnel cake batter dropped into searing grease. And David Parker, chairman of the trucking company he founded in 1986, was busy at work. But he welcomed the chance to talk a few minutes about the significance of the milestone.

“Thirty years,” he said. “I’m 30 years older.” He flashed a big smile and leaned back in his chair.

Parker was raised in the trucking industry by longhaul trucking pioneer Clyde Fuller. Parker and his half-brother, Max Fuller, worked for Fuller in their youth, coming up in the business.

That was in the 1970s and ’80s. In the mid-’80s, Clyde Fuller left his company, Southwest Motor Freight, to his boys. They eventually sold the company. After the sale, Parker, a devout Christian, felt a calling to start Covenant Transport. So in 1986, he did. His half-brother Max Fuller, along with Pat Quinn, started U.S. Xpress Enterprises the same year in Chattanooga. All three inherited trucks from Southwest Motor Freight.

“We were 28 years old when we started this sucker,” Parker said of himself and his wife, Jacqueline.

Covenant has grown a lot since then. How will Covenant evolve in the next 30 years? Time will tell.

Read the rest of the Chattanooga Times Free Press story here.

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