CM – PE-backed EV Cargo announces strategic plan to exceed USD 3 billion in sales

EV Cargo, a global freight forwarding, supply chain and technology company headquartered in Hong Kong, has outlined ambitious growth and expansion plans.

EV Cargo, which manages supply chains for the world’s leading brands, aims to achieve its current base of 1.4 billion US dollars to exceed sales of 3 billion US dollars by 2025 through organic growth and M&A. With an active pipeline of acquisition candidates and well-developed M&A capabilities, EV Cargo plans to build on its strong existing geographic presence in Asia and Europe and expand into the US.

Given the ongoing opportunities and challenges in global supply chains, EV Cargo continues to invest in building a global team focused on growth and resilience. Following several recent appointments, including Virginia Alzina as Chief Sustainability Officer and board members Gary Edwards and Rupert Myer, industry veteran Paul Coutts will join EV Cargo as COO on September 1, 2021, based in Singapore. Paul joins from Singapore Post where, as Group CEO, he oversaw the transformation of the 160 year old Singapore company into an innovative global company and a pioneer in e-commerce logistics. Prior to SingPost, Coutts was Global CEO of Toll Global Forwarding and previously held senior positions at major global logistics and postal companies. With more than 35 years of experience in leading positions in the logistics industry, Coutts has extensive operational and commercial experience across the entire logistics spectrum.

As part of its commitment to providing growth opportunities for its employees, EV Cargo has announced several internal promotions. Michael Conroy, CEO of EV Cargo’s Palletforce Express Division for 13 years, has been appointed CEO of EV Cargo UK, a newly created position. Michael has managed and monitored over $ 140 million in investments from EmergeVest and has increased revenues tenfold to become the clear market leader. Previously, he was part of the successful management team to clean up the fortunes of ANC Express, which was subsequently sold to FedEx for $ 169 million. The structure of EV Cargo UK also includes the promotion of Ross Eggleton from Executive Vice Present, Business Development to COO, UK.

EV Cargo has a long history of dedication to technology and innovation with an industry leading digital capability. As part of a proposed successor, Craig Sears-Black, CEO of EV Cargo Technology, has assumed a new role as Executive Vice President, Growth & Innovation, and Duncan Grewcock has been promoted to CEO of Technology. Given the important links between EV Cargo’s Global Forwarding and Technology businesses, Clyde Buntrock, CEO of Global Forwarding, will have an expanded role in global technology reporting to him. Buntrock’s outstanding logistics career spans more than 25 years and he has made a significant contribution to EV Cargo’s leadership position in global freight forwarding and international supply chain management.

EV Cargo has also announced that Andy Humpherson, CEO of EV Cargo Solutions, will expand his role to include its own fleet transport, while Wendy Dean joins as Executive Vice President of People. The newly created role focuses on people, culture and EV Cargo’s diversity and inclusivity program.

Heath Zarin, Founder and CEO of EV Cargo, said, “EV Cargo aims to exceed $ 1.5 billion in annual sales and continues to provide excellent service to our customers in an incredibly challenging time for global supply chains. Thanks to years of hard work by some of the brightest people I have ever worked with, EV Cargo is entering this next phase of development from a position of strength as we drive the global economy by providing technology-enabled supply chain services.

“We are all very excited about our growth and expansion plans and I am thrilled that we have succeeded in putting together such an incredible team. I welcome the latest addition to our Senior Leadership Team, Paul Coutts, who will join us from Singapore Post in September. I am also delighted to congratulate Michael Conroy on his promotion to CEO of EV Cargo UK, Clyde Buntrock on his expanded responsibility and the entire EV Cargo team on our continued success. «