UPS expands Worldwide Express package service
UPS has expanded its UPS Worldwide Express package service to reach 124 countries and territories.
Read MoreTag: Worldwide Express
Worldwide Express appoints new Franchise Operations SVP
Joel Clum has joined the executive team of Dallas-based package and freight-shipping firm Worldwide Express as Senior Vice President of Franchise Operations.
Read MoreTwo local companies draw investor
Allied Capital Corp. said Tuesday it has invested in two Dallas-Fort Worth-area companies.
Allied completed its buyout of Worldwide Express Inc., a reseller of DHL express and ground-shipping services based in Dallas. The full purchase price was not revealed.
Allied also said it committed USD 93.4 million to support the management-led recapitalization of Higginbotham & Associates. Higginbotham is an insurance brokerage and risk management firm based in Fort Worth.
Allied, based in Washington, D.C., is a business development company that invests private debt and equity capital in middle market businesses nationwide.
Worldwide Express, founded in 1994 by David Kiger and Roger MacDonell as a reseller for Airborne Express, is a franchisor of DHL shipping services in the United States. It has about 150 franchisees with more than 60,000 customers nationwide.
Higginbotham & Associates, founded in 1948, has 220 employees. In addition to Fort Worth, the company has offices in Dallas, Austin, Denton, McKinney, Weatherford and Waco.
Read MoreAllied Capital Announces Buyout of Worldwide Express
Allied Capital Corporation announced today that it has completed the buyout of Worldwide Express Inc., (“WWEX”), a leading reseller in the U.S. of DHL express and ground shipping services to the small and medium-sized business market, with a USD 15.7 million subordinated debt and equity investment. Management of WWEX also made a significant debt and equity investment alongside Allied Capital. Third party lenders provided all of the senior financing and the majority of the subordinated debt for the deal.
Worldwide Express is the largest master franchisor of DHL shipping services in the U.S., with approximately 150 franchisees serving over 60,000 small business customers nationwide. The reseller model is used by DHL to penetrate the highly fragmented small and medium-sized business (SMB) market with a direct, high-touch sales strategy. WWEX supports this strategy by providing its franchisees access to over 200 days of sales and marketing training per year, recruiting and operational support, in addition to localized service, customized billing solutions, and pricing discounts to its customers.
Fidus Partners served as advisor to WWEX in the transaction.
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