Redwood Logistics announced Tuesday that it has acquired Strides, a transportation management provider specializing in data driven optimization for the spirits and consumer packaged goods industries. The transaction is expected to enhance Redwood’s managed transportation offering by incorporating Stridas’ expertise in supply chain design and procurement.
Financial terms of the transaction were not provided.
Founded in 2012, Cincinnati-based Stridas focuses on re-engineering freight networks to create savings for enterprise customers. In addition to managed transportation, the company also has a strong freight brokerage network that provides less than truckload and bulk freight offerings (dry van, reefer, flatbed and specialty).
Mark Yeager, CEO of Chicago-based Redwood Logistics, highlighted the deal’s timing and strategic fit.
“The freight market is at an inflection point,” Yager said. “Shippers are tired of navigating price volatility and fragmented providers. They now want a consistent, integrated partner.”
The deal highlights growing demand for managed transportation solutions as shippers look to move away from spot market exposure to stronger supplier relationships with predictable costs. Stridas will be integrated with Redwood Connect, Redwood’s proprietary platform that connects carriers, customers and supply chains.
“Redwood’s managed transportation business is built on using data and technology to make better decisions over time,” said Steve Walton, Redwood’s chief operating officer. “Stridas deepens this capability and connecting with Redwood Connect gives customers a transportation management experience that combines value the more we work together.”
Redwood’s latest acquisition comes just a week after it acquired EELCO, a Laredo, Texas-based customs brokerage and warehousing provider, to bolster its U.S.-Mexico border offering.
“Stridas’ experience and managed transportation capabilities fit seamlessly with Redwood’s modern 4PL approach, enabling a more comprehensive solution for our customers,” Yeager said.
Together, the acquisitions signal a broader strategy to build a comprehensive, integrated logistics platform.
“We created Stridas for one reason: to change how our customers think about shipping,” said Stridas CEO Chris Painter. “The carriers we work with want a partner who can understand their network, find inefficiencies and develop a strategy to address them. Working with Redwood, we can now do this at scale.”
Republic Partners acted as exclusive financial advisor to Stridas in the transaction.
