Open Road Ventures (ORV) acquired Double-Stack Logistics, a strategic partnership that establishes ORV’s presence in intermodal logistics and strengthens Double-Stack’s ability to expand services and pursue new growth opportunities across North America.
“With the high price of fuel, shippers and manufacturers are looking for cost effective ways to move freight,” says Mike Riccio, founding member of Open Road Ventures and founder of More Than Miles Consulting. “Putting product on the rail significantly reduces the cost of moving goods through the supply chain.”
“Joining ORV is really about having the right people behind us to help maximize the potential of the company,” says Double-Stack founder and CEO Joe Kolb. “We have our own fleet of containers that move on the rail, and that’s pretty unique for a company our size. You've got some very large, billion dollar-plus companies that own equipment, but for a mid-sized company like Double-Stack to have our own equipment is a testament to the strength of our brokerage. We will only be stronger as an ORV company.”
Key takeaways:
· Double-Stack serves multiple major U.S. based shippers and owns and operates direct rail contracts and container assets with more than 150 rail containers.
· Partnering with Open Road Ventures provides Double-Stack with opportunities to accelerate its growth trajectory and unlock efficiency. Through ORV, Double-Stack gains access to additional financial and operational resources while reducing the administrative workload of operating a thriving freight brokerage.
