Cambridge Capital Announces Majority Investment in Everest Transportation Systems, in Partnership with Management, to Fuel Continued Growth
WEST PALM BEACH, Fla., Sept. 8, 2021 /PRNewswire/ — Cambridge Capital, a leading investment firm focused on the applied supply chain, today announced a majority investment in Everest Transportation Systems (“Everest”), an innovative, high-growth freight brokerage firm led by industry veterans. The investment, in partnership with management, will enable Everest to continue to expand its differentiated platform and capitalize on its large market opportunity, on the back of over 100% revenue growth and nearly 200% EBITDA growth over the last twelve months.
In conjunction with the investment, Cambridge Capital’s Benjamin Gordon and Matt Smalley have joined Everest’s Board of Directors. Everest’s founders, Jake Elperin, Lev Krasnopolskiy and Phil Weber, will continue to lead Everest full-time, retain significant ownership and serve on the Board.
Through Everest’s disruptive go-to-market model, enterprise shippers can enjoy personalized service, operational excellence, 24×7 responsiveness and access to a proprietary base of carriers for transportation needs of all types. With distinct offerings for full truckload, LTL, drayage, intermodal, hazmat, temperature controlled, expedited and volume partials, and a focus on stable, non-cyclical industries such as food and beverage, Everest provides a balance of mode depth and specialization. By de-coupling, optimizing and automating key functions and processes within a traditional brokerage organization, Everest’s customers can have a logistics partner that is able to scale, without sacrificing quality, responsiveness or service levels.
“After bootstrapping Everest for over 5 years, we are excited to announce this significant investment. Cambridge Capital is the perfect partner for us who has deep experience in transportation and logistics globally. Working with them will allow us to continue developing our platform, expanding our leadership team and extending our high-growth trajectory into 2022 and beyond, leveraging their experience and industry relationships with key customers and partners,” said Jake Elperin, Co-Founder and CEO of Everest.
Lev Krasnopolskiy, Co-Founder and Chief Strategy Officer of Everest, said, “As we manage our explosive growth to over 200 employees globally and continue to invest in training, promoting and expanding our team, Cambridge Capital can help us by leveraging their experience with managing global operations at scale. The dedicated full-time Everest employees in Evanston, IL and Kyiv, Ukraine are a key reason for our success, and we look forward to allowing them to continue to excel personally, professionally and financially, while also growing the team meaningfully over the next several years.”
Phil Weber, Co-Founder and Chief Operating Officer, added, “Everest has been effective by understanding the key pain points for shippers, carriers and brokerage employees, as well as the key profit drivers of the brokerage business model. As we embark on this next chapter with Cambridge Capital, we will continue to invest heavily into technology and operational automation to add significant value to all Everest stakeholders.”
Customers recognize Everest’s unique value proposition, particularly in today’s difficult logistics and supply chain environment. Sarah Cohen, Northeast Regional Transportation Manager at Nestle Waters said, “In a very challenging transportation market, we have been able to work with Everest to find solutions to truck capacity to help us better serve our customers in a true time of need.” Patrick Miller, VP of Global Distribution & Logistics at Paris Presents added, “Our partnership with Everest continues to be one of stability and growth. They pride themselves on creative and cost-effective solutions. In this everchanging logistics market, Everest has maintained service levels that are second to none.”
“We are extremely excited to partner with Jake, Lev and Phil as Everest’s first outside investor. Our background as global business builders in supply chain, and our unique viewpoint as a group of operators, strategic advisors and investors focused exclusively in logistics, will allow us to help Everest continue to extend its market leadership and innovative go-to-market strategy” said Benjamin Gordon, Cambridge Capital’s Managing Partner. “Everest’s impressive team, exponential growth with existing and new large customers, and top-tier satisfaction with the most important customers globally suggest nearly unlimited potential for the business going forward. We look forward to partnering with the Everest team for the next several years,” added Matt Smalley, Principal of Cambridge Capital.
With large customers such as AB InBev, Nestle, Swire Coca-Cola, Dollar General and Paris Presents, Everest is already a leader in its core industry, with best-of-breed growth, performance and operational metrics. With this new investment, Everest will accelerate and deepen its relationships with other large customers and partners, as well as pursue tuck-in and transformational acquisitions.
McDermott Will & Emery LLP served as legal advisor to Cambridge Capital, while Capital Dynamics Private Credit acted as Lead Arranger for a Senior Secured Term Loan Facility to support Cambridge’s investment in Everest. Capstone Partners LLC served as exclusive financial advisor to Everest and Waller Lansden Dortch & Davis LLP served legal advisor to Everest.
About Cambridge Capital:
Cambridge Capital is an investment firm focused on the applied supply chain. The firm provides private equity to finance the expansion, recapitalization or acquisition of growth companies in transportation, logistics and supply chain technology. Our philosophy is to invest in companies where our operating expertise and in-depth supply chain knowledge can help our portfolio companies achieve outstanding value.
For more information, please visit http://www.cambridgecapital.com.
About Everest Transportation Systems:
Everest Transportation Systems is a high-growth, unique freight brokerage, currently focused on over the road surface transportation. Through an innovative organizational design and go-to-market model, Everest is disrupting traditional freight brokerage by delivering exponential growth, operational excellence and high-touch service 24×7 – at scale. Everest specializes in full truckload, LTL, drayage, intermodal, hazmat, temperature controlled, expedited and volume partials, with a focus on stable, non-cyclical industries such as food and beverage. Everest was founded in 2015 and is headquartered in Evanston, IL, with a meaningful operation in Kyiv, Ukraine.
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