HOUSTON, May 8, 2024 (BUSINESS WIRE) --
OptiX Entities LLC ("OptiX") today announced its acquisition of Vircon Transport Solutions LLC ("Vircon") in an equity purchase transaction.
The transaction forms the foundation for the launch of OptiX Transport Solutions, a new corporate division to complement OptiX' existing drayage, managed freight solutions, container stacking, warehousing, and transloading capabilities from the ports across the Gulf Coast and Southeast including Houston, Savannah, Charleston, and Dallas. The new division will remain headquartered in Pittsburgh, PA and open additional office space in Houston, TX.
Vircon currently serves customers in several sectors including steel, mining, lumber, tires, petrochemicals, equipment rentals, building materials, and industrial chemicals. With operations in 48 states plus Canada and Mexico, the new OptiX Transport Solutions will provide dry van, flatbed, intermodal drayage, over-dimensional, and specialized freight services to OptiX 3PL customers as well as brokerage-only clients. Existing brokerage customers will now have access to OptiX' substantial fleet of assets to lower costs and increase line of sight on their freight logistics.
"This transaction supports the requests of both OptiX and Vircon customers who seek greater integration of outbound and inbound domestic services in conjunction with their import/export operations and storage requirements. OptiX will continue to invest heavily in facilities, talent, trailer assets, and technology to grow with customers and provide diverse services to their supply chain," said Adam Borden, President of OptiX.
"Customer preference for integrated solutions continues to grow in the intermodal market, and Vircon has been a critical partner in meeting those expectations. We are excited to make their team and technology platform part of the OptiX brand and add their brokerage services to our in-house capabilities," said Buddy Sexton, Chief Commercial Officer of OptiX. "Vircon's team has developed a strong reputation for communication and execution, and we look forward to continuing that legacy with their existing customers while bringing a broader suite of services to our OptiX customers. We are committed to understanding and supporting the entire supply chain of our clients, and adding a class-leading freight brokerage as part of our efforts to expand where our customers continue to demand innovation, lower costs, and an unwavering commitment to safety."
"I am immensely proud of the track record of our team since inception, scaling rapidly and delivering excellent service in the high and lows of the transportation market. As the new OptiX Transport Solutions, my colleagues and I are excited to share the combined company's expanded capabilities including warehousing, container storage, and drayage with our valued customers. For OptiX existing intermodal clients, we look forward to earning their trust and providing flexible and cost-effective solutions for their over-the-road logistical needs," said Robert "Bob" Schenken, Managing Director - OptiX Transport Solutions and former Founder and President of Vircon. "OptiX has been a great customer and vendor to Vircon, and we are excited to formalize and deepen our cooperation through this transaction."
Strategic Benefits
Expanded Capabilities - Freight Brokerage
Optix will provide customers with over-the-road freight brokerage service that integrates with their existing import/export needs and creates a cohesive managed freight offering.
Expanded Capabilities - Diverse Assets
OptiX Transport Solutions will deliver asset or non-asset services to brokerage customers, tailoring the asset package and delivery method to customers' needs on a lane or product line basis.
Expanded Capabilities - New Services
OptiX will offer brokerage clients service at OptiX warehouses and yards to augment capacity and better plan delivery options.
Economies of Scale
Investments in chassis fleet, trailers, safety systems, and technology require large capital programs that can benefit from being shared across a broader organization.
Advisors
Perkins Coie served as Buyer's Counsel with Scopelitis, Garvin, Light, Hanson & Feary, P.C. serving as Regulatory Counsel.
About OptiX
OptiX Entities LLC ("OptiX") is a Texas-based integrated intermodal business, serving the petrochemical, consumer goods, and industrial industries. Our logistics capabilities include drayage, chassis leasing, warehousing, container stacking, transloading, and managed freight across the Gulf Coast, Southeast, and East Coast. We specialize in building enduring relationships with customers and crafting integrated, tailored, and flexible solutions that deliver measurable results and scale with customer requirements over time.
Tell us the "Way You See Logistics" and let our professionals create short- and long-term solutions that reflect your priorities and operational framework in a complex and evolving supply chain. To find out more, visit www.driveOptiX.com.
OptiX is owned by management and funds controlled by the Lilium Group, a Houston-based private equity manager focused on investments in the industrial and transportation space.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240508140444/en/
SOURCE: OptiX Entities LLC
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For corporate inquiries or more information on this press release, please reach out Robert "Bob" Schenken, Managing Director - OptiX Transport Solutions, at rschenken@driveOptiX.com.
COMTEX_452055247/1006/2024-05-08T06:00:01
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