Kidd & Company and Firmament have exited their investment in Logistyx Technologies in a sale to E2open Parent Holdings Inc, for $185 million. Logistyx Technologies is a multi-carrier shipping software company.
New York, March 31, 2022 – Family office investor Kidd & Company and private investment firm Firmament have exited their investment in Logistyx Technologies, a global multi-carrier shipping software company, in a sale to E2open Parent Holdings, Inc. (NYSE: ETWO) for $185 million. E2open is a leading network-based provider of a cloud-based, mission-critical, end-to-end supply chain management platform.
Logistyx Technologies’ complementary parcel management technology bolsters global fulfilment capabilities of E2open, providing comprehensive global multi-carrier parcel management capabilities in one unified end-to-end, connected omni-channel supply chain platform.
With the combination, E2open enhances its global footprint for multi-carrier e-commerce shipment management, offering companies a complete range of shipping capabilities needed to scale and respond to growing market needs. Noted Michael Farlekas, Chief Executive Officer at E2open, “The demand for e-commerce shipping capabilities continues to grow as companies look for more flexible and cost-effective ways to deliver products to consumers. This combination makes E2open the most comprehensive and integrated shipping solution provider, which covers all shipping modes including ocean, air, road, rail, and parcel, and is powered by a global network of carriers and logistics service providers. Logistyx is complementary to E2open’s existing platform, enabling E2open’s world-class clients to orchestrate their supply chains from demand to fulfilment, to supply.”
Logistyx Technologies was controlled by Kidd & Company and Firmament. The Kidd & Company investment team was led by Partner Gerry DeBiasi, who noted, “We started with a thesis in 2015, formed Logistyx in 2017, executed our plan for the past five years and now ‘pass the torch’ to E2open. From our first meeting with the E2open team, it was clear that they would be an excellent strategic acquiror for Logistyx, as they had a similar vision of the market opportunity and how Logistyx could add value to the E2open portfolio.” The Firmament investment team was led by Principal Ted Wong, who added, “We are delighted by this transaction and excited for the next chapter of Logistyx. From its formation in 2017, Logistyx has provided a leading multi-carrier parcel software solution, and we believe E2open is uniquely positioned to take Logistyx forward as part of a complete supply chain platform to global enterprise customers.”
The Logistyx combination with E2open accelerates subscription revenue growth and unlocks strategic benefits for clients, including:
• Increased reach as a global leader in transportation management for parcel shipping: Logistyx’s global parcel system augments E2open’s direct-to-consumer e-commerce offerings, creating a complete global footprint for multi-carrier parcel management.
• Enhanced global parcel carrier network: The combination adds a carrier library of over 550 global carrier integrations including UPS, FedEx, DHL and USPS, to E2open’s leading network. The Logistyx solution manages the carrier certification process to keep clients in compliance, while making it easier to compare and review spot rate options, which is critical in a capacity-constrained environment.
• Expanded client base: E2open’s client base will be enhanced by Logistyx’s strong global enterprise clients, which include many of the world’s leading retailers, manufacturers, and carriers.
• Augmented product offerings: Logistyx’s clients will benefit from a combined portfolio that will not only expand shipping modes beyond parcel, but also enhance upstream capabilities to better orchestrate manufacturing, distribution, channel and trade operations.
About Kidd & Company
Kidd & Company (“KCO”) is the private equity arm of the Kidd Family Office. It develops thesis-driven investment strategies in the lower middle market and invests its capital in these strategies. Its focused, non-traditional approach to private equity investing has allowed the firm to grow and prosper for more than 45 years. It partners with founders/management of companies where growth can be accelerated by combining management’s knowledge of its business with KCO’s experience in scaling similar businesses. For more information, visit www.kiddcompany.com.