EV Cargo announces strategic plan to surpass $3bn of revenue and strengthens team

2021 Portfolio Company News
  • Targets more than $3bn annual revenue by 2025, through organic growth and M&A
  • Announces Paul Coutts, former Group CEO of Singapore Post, will join EV Cargo as COO
  • Internal promotions to support global growth, innovation and sustainability

Headquartered in Hong Kong, EV Cargo, a leading global freight forwarding, supply chain and technology company, today outlines ambitious plans for growth and expansion. EV Cargo, which manages supply chains for the world’s leading brands, is targeting to grow from its current base of $1.4bn and surpass $3bn of revenue 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 footprint in Asia and Europe, as well as expand into the USA.

With ongoing opportunities and challenges across global supply chains, EV Cargo continues to invest in building a global team positioned for growth and resilience. Following several recent appointments, including Virginia Alzina as Chief Sustainability Officer and board directors Gary Edwards and Rupert Myer, industry veteran Paul Coutts will join EV Cargo as COO on 1 September 2021 and is expected to be based in Singapore. Paul joins from Singapore Post where, as Group CEO, he has overseen the transformation of the 160-year-old Singapore listed company into an innovative global business and pioneer in eCommerce logistics. Prior to SingPost, Paul was Global CEO of Toll Global Forwarding, having previously held top leadership positions at major global logistics and postal companies. With more than 35 years of experience in senior executive level positions in the Logistics Industry, Paul has extensive operational and commercial experience across the logistics spectrum.

As part of its commitment to providing growth opportunities for its people, EV Cargo has announced several internal promotions. Michael Conroy, CEO of EV Cargo’s Palletforce Express Division for the past 13 years, has been appointed CEO of EV Cargo UK, a newly created role. Michael has managed and overseen over $140m worth of investment from EmergeVest and grown the earnings tenfold to be the clear market leader. Previously, he was part of the successful management team to turnaround the fortunes of ANC Express, which was subsequently sold to FedEx for $169m. The EV Cargo UK structure also includes Ross Eggleton being promoted from Executive Vice Present, Business Development to COO, UK.

EV Cargo has a long-standing commitment to technology and innovation, with an industry-leading digital capability. As part of a planned succession, EV Cargo Technology CEO Craig Sears-Black has taken on a new role of 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 with Technology reporting to him on a global basis. Clyde’s distinguished logistics career spans more than 25 years and he has contributed significantly to EV Cargo’s leadership position in global freight forwarding and international supply chain management.

EV Cargo is also pleased to announce that Andy Humpherson, CEO of EV Cargo Solutions, will expand his role to include owned 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 programme.

Heath Zarin, Founder and CEO of EV Cargo, said: “EV Cargo is on target to surpass $1.5bn of annual revenue and continues to provide excellent service to our customers during 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 enters this next phase of development from a position of strength, as we power the global economy by providing technology-enabled supply chain services.

“We are all very excited about our plans for growth and expansion and I am thrilled that we have managed to assemble such an incredible team of people. I would like to welcome the most recent addition to our senior leadership team, Paul Coutts, who will join us in September from Singapore Post. It is also my pleasure to congratulate Michael Conroy on his promotion to CEO of EV Cargo UK, Clyde Buntrock on his expanded responsibilities and the entire EV Cargo team on our continued success.”.