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2008-03-20  BUSINESS | Integra Logistics becomes part of larger firm
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| | by Bob Pepalis | |  |
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| | | (SPECIAL/www.northfulton.com)
The new company, Coyote Integra Logistics, takes advantage of the strengths of both Coyote’s experience in shipping through trucks, and Integra’s rail experience – plus adding France’s eGlobe to the group gives it a European presence. (click for larger version) | |
March 24, 2008
ALPHARETTA -- A chance encounter at a coffee shop helped an Alpharetta firm become part of a much larger logistics company that unites rail and truck logistics.
Mitch Bernet, the founder of Integra Logistics, said his company's highway services operations vice president was in an Illinois Starbucks when a woman walked in wearing a pink Coyote Logistics shirt. He asked her about Coyote, and learned its headquarters were across the street in a building in which he once worked. A few weeks later, Bernet and his partner met with Coyote's founder to discuss their related businesses.
To Bernet's surprise, the owner was Jeff Silver, who had been one of the founders of American Backhaulers, which was something of a legend in logistics. Bernet had patterned his business practices after the successes of American Backhaulers.
"Kind of out of the blue from a chance Starbucks' encounter, Jeff lays out his entire business strategy," Bernet said.
Silver told the Integra partners they probably wondered why he did that, but he had a simple answer – because they couldn't do what Coyote Logistics was doing, as their company didn't have the capital, training and expertise to do it.
Bernet responded by outlining Integra's business strategies.
The training and rewards that Coyote used with its employees mirrored Integra, he said.
Coyote primarily shipped by truck, with Integra doing 90 percent of its business through rail.
A private equity company bought Integra in a deal for Coyote partly because the Illinois firm's founder demanded the Alpharetta firm be included.
What also helped was the tremendous growth Integra has experienced. Inc. Magazine put the company at No. 38 in its Top 500 Fastest Growing Private Companies in America list for 2007. The logistics firm had an astounding 2,651.6 percent growth since its founding in 2003.
Coyote, Integra and eGlobe out of France are part of an acquisition being made by Warburg Pincus, a private equity firm out of New York.
Bernet expects an expansion will be needed in Alpharetta because the goal in the next three to five years is to have several hundred people employed by the new company, Coyote Integra Logistics. The accounting headquarters will remain in Alpharetta. That was something Coyote outsourced. Up to 50 people may move from Chicago as a result.
Integra always recruited out of the University of Tennessee, Georgia, Auburn, Ole Miss, Florida and Georgia Southern. Eventually Georgia Tech and some mid-level schools such as Middle Tennessee and the University of Memphis will be included. Recruitment is done geographically to attract the new workers who want to live in Atlanta or Memphis, another office location.
"That's why people here are pumped," Bernet said, because the Alpharetta organization will continue to get support as the organization moves forward.
Jeff Silver, founder of Coyote, will be the CEO of the new organization. Bernet is president of the North America operation.
One of Bernet's few regrets about the unplanned merger is losing his bankers at Wells Fargo, who helped him grow Integra so quickly. But Warburg Pincus has its own bankers.
- www.northfulton.com
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Inc. 500
No. 38 Integra Logistics, Alpharetta
Industry Logistics
Founded 2003
Growth 2,651.6 percent
2003 Revenue $2 million
2006 Revenue $54.1 million
Employees 58
Web site: www.integralogistics.com
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Integra Logistics
• Ranked No. 1 in
the Top Companies in Logistics
• Ranked No. 3 in the Top Companies
in Atlanta-Sandy Springs-Marietta, GA
• Ranked No. 9 in the Southeast Inc. 500 Companies
Integra Logistics
What it does: Provides freight logistics for consumer-goods and agricultural-products companies.
Why it's growing: Clients like International Paper and Seneca Foods appreciate Integra's Web-based service, which distinguishes the company in an industry that still has plenty of legacy systems.
What's noteworthy: New employees walk into a cube decorated with balloons and streamers, and the company's "Culture Guardian" coordinates Friday-afternoon theme parties, monthly cash bonuses when the company logs a profit, and prizes for teams that perform the best. | |
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