Austin Ventures has acquired three companies to form a new distribution, warehousing and transportation services company, Port Logistics Group.
The combined PLG will have revenues of roughly $100 million at its launch and will be a major player in the distribution sector in U.S. port cities. The company will be headquartered in Houston.
Austin Ventures made the buy in partnership with transportation and distribution industry executive Robert Stull. Stull will lead PLG as president and CEO.
“We are excited about our investment with Bob to build a national, port-focused logistics company,” says David Lack, a partner in Austin Ventures. “These initial acquisitions are the first of many that we will make with Bob as PLG extends the reach of its port logistics capabilities for its customers.”
Stull says that after doing some market research he became convinced of the need for a new nationwide logistics company focused on major port cities.
Stull is the former president and CEO of Roadway Express. He rose through the ranks over a 28-year career with that transportation company, eventually taking the reins as CEO of the $3 billion enterprise.
The combined PLG will have revenues of roughly $100 million at its launch and will be a major player in the distribution sector in U.S. port cities. The company will be headquartered in Houston.
Austin Ventures made the buy in partnership with transportation and distribution industry executive Robert Stull. Stull will lead PLG as president and CEO.
“We are excited about our investment with Bob to build a national, port-focused logistics company,” says David Lack, a partner in Austin Ventures. “These initial acquisitions are the first of many that we will make with Bob as PLG extends the reach of its port logistics capabilities for its customers.”
Stull says that after doing some market research he became convinced of the need for a new nationwide logistics company focused on major port cities.
Stull is the former president and CEO of Roadway Express. He rose through the ranks over a 28-year career with that transportation company, eventually taking the reins as CEO of the $3 billion enterprise.