Echo's merger to close this month
Chicago-based and Nasdaq-listed Echo Global Logistics has received the green light from its stockholders for the proposed merger of Echo and Einstein Merger Sub. The American company is a Delaware corporation, a subsidiary of Einstein Mid Co and an affiliate of The Jordan Company, a global private equity firm.
Merger Sub will become an integral part of Echo and merge with and into Echo, with Echo becoming a part of the Jordan Company's universe. The process is expected to be finalised by the end of November 2021. The transaction is valued at approximately USD 1.3 billion.
The Jordan Company is a middle-market private equity firm that has managed funds with original capital commitments of USD 17 billion since 1987 in a number of industries, including transport & logistics. (sh)