![]() How has Roadrunner used SMC³ products to excel in the industry? We have brought in some incredible talent and they continue to amaze me with projects they are working on. Over the past year, we created a technology center at our corporate office in Downers Grove and have hired over 50 IT professionals. Scott Cousins, our CIO, has completely revamped and reorganized our IT team to be very nimble and closely aligned with the individual needs of the business. Technology is at a forefront of our service based recovery and critical to our success in driving improved service, driver retention and recruitment as well as network enhancements. The evolution of supply chain technology will never stop, and we are meeting this challenge head-on. How does Roadrunner view evolving supply chain technology? The company plans to launch guaranteed service on some lanes by the end of spring.Logistics technology company SMC³ works with some of the leading service providers in the transportation and supply chain industry, giving them the tools to optimize their less-than-truckload operations.įrank Hurst (pictured above), president of Less-than-Truckload (LTL) provider Roadrunner Freight, a division of Roadrunner Transportation Systems, recently spoke with SMC³ about how the company uses its logistics technology products and how the carrier views innovation. Roadrunner issued a brief service update, noting “record-level on-time delivery rates and the lowest exceptions in company history” for the first two months of the year. Ross has been a transportation analyst for 20 years, most recently serving as group head for transportation and logistics equity coverage at Stifel. His role will focus on operations, pricing and strategy. “Andrew and Kevin join us as meaningful owners in our business with the energy and knowledge to help drive significant value creation as we continue our transformation,” said Chris Jamroz, executive chairman of Roadrunner.įormer Stifel Financial ( NYSE: SF) equity research analyst Dave Ross has joined Roadrunner as a partner and EVP. He is currently a senior adviser to OmniTRAX’s parent, The Broe Group. Kevin Shuba, former CEO of railroad holding company OmniTRAX, joins the board as well. I look forward to helping drive this transformation, especially through our technology development,” Leto added. “This team has done a great job cleaning up a mess and getting Roadrunner back to its roots in LTL. The goal was to create a less capital-intensive structure primarily focused on less-than-truckload. ![]() Those efforts included the spinoff of Ascent Global Logistics, unwinding several previously failed acquisitions and delisting from the New York Stock Exchange. The Downers Grove, Illinois-based company has been engaged in a significant restructuring to stem losses, improve its capital structure and refocus on core operations. The new shares have the same liquidation preference as the subscription price, which was a 15% discount to the trading price when the deal was struck earlier in 2021. Every shipper needs a consolidator like Roadrunner, and most are not taking advantage of what Roadrunner has to offer. “Roadrunner is really a technology moving trucks, not a trucking company. The proceeds are expected to be used for technology investments centered on “planning, pricing and efficiency.” The company will also use the funds to bolster its leadership roster and improve service. The round was led by a $10 million investment from Andrew Leto, who founded third-party transportation providers GlobalTranz and Emerge. Roadrunner ( OTC: RRTS) announced Thursday it recently closed an equity private placement for $50 million.
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