Written by Eliza LaJoie
Multi-year Inner City 100 winner Coyote Logistics entered a new chapter of its fast-paced growth story last week when it announced its acquisition by UPS, a provider of supply-chain management solutions and the world’s largest package delivery company.
Coyote, a firm specializing in technology-driven transportation and logistics, topped the Inner City 100 list in 2012 with a five-year growth rate of nearly 300 percent. Its momentum has only increased since then. It reappeared as a winner on the 2013 and 2014 Inner City 100 lists, has partnered with major players like UPS and underwent two previous mergers with other fast-growing logistics companies.
In announcing the recent acquisition, both companies emphasized that their combined resources would expand opportunities for even greater growth and leadership in the supply chain industry. Like many other Inner City 100 winners, Coyote has used technology to enhance its services, offering a suite of proprietary transportation management software. As part of UPS, Coyote will expand the reach of its product and service still further around the country.
“The Coyote management team is very excited to become a part of UPS and continue to grow, now with UPS’s support,” Coyote CEO Jeff Silver said in a press release. “Our great people, leading technology and flexible organization will enable us to scale quickly to take full advantage of the added customers, lanes and capacity within UPS.”
In 2012 Silver emphasized how relationships – with customers, employees and industry colleagues – have helped power his company’s swift ascent. And indeed, relationships seem to have played a key role in this latest development. With the acquisition, UPS will gain access to the strong partnerships Coyote has cultivated in industries like food and beverage, which the larger company has not yet penetrated.
And as a UPS subsidiary, Coyote will continue to function independently with Silver at the helm and the tight-knit culture of its Chicago headquarters intact. Coyote has become known for its dedication to promoting internally and to offering staff unique education opportunities via partnerships with local universities, including a “mini-MBA” through DePaul.
“UPS very much valued our culture in our commercial relationship, and they very much value it in the acquisition,” Silver told the Journal of Commerce following the UPS announcement, adding that, “I’m going nowhere. I will continue to run this, and we’re going to continue in the exact same way.”
This year’s Inner City 100 Conference and Awards will be held on October 7 at the University of Massachusetts, Boston, and the John F. Kennedy Presidential Library! Learn more and view the agenda and speaker information.