VALPARAISO, Ind. — Open Road Ventures (ORV) is announcing the acquisition of Double-Stack Logistics.
“With the high price of fuel, shippers and manufacturers are looking for cost effective ways to move freight,” said Mike Riccio, founding member of OVR and founder of More Than Miles Consulting. “Putting product on the rail significantly reduces the cost of moving goods through the supply chain.”
According to ORV, the acquisition is a strategic partnership that establishes ORV’s presence in intermodal logistics and strengthens Double-Stack’s ability to expand services and pursue new growth opportunities across North America.
Rising Fuel Prices and Supply Chain Pressures
According to a company press release, amid rising fuel prices and supply chain pressures, Double-Stack has emerged as a leading intermodal freight broker, providing cost-effective rail transportation to shippers and manufacturers searching for affordable alternatives to moving goods over the road. Double-Stack serves multiple major U.S. based shippers and owns and operates more than 150 rail containers. Double-Stack is one of only a few U.S. companies with direct rail contracts and container assets. Being an asset-based Intermodal Marketing Companies (IMC) is a major differentiator and one of the main reasons ORV is making this their first acquisition.
“Joining ORV is really about having the right people behind us to help maximize the potential of the company,” said Joe Kolb, Double-Stack founder, CEO. “We have our own fleet of containers that move on the rail, and that’s pretty unique for a company our size. You’ve got some very large, billion dollar-plus companies that own equipment, but for a mid-sized company like Double-Stack to have our own equipment is a testament to the strength of our brokerage. We will only be stronger as an ORV company.”
Direct Relationships with Major Railroads
Double-Stack has direct contracts with the Class I railroads, a distinction held by only a few dozen of the more than 10,000 logistics companies nationwide. Most transportation and logistics providers must rely on third-party intermediaries to access rail networks. While Double-Stack generates about half of its revenue from standard OTR and traditional intermodal freight, the other half comes from over the road conversions, according to the release.
“We take items that typically don’t ship intermodal and work with the railroads to come up with a plan to shift and move that product from over the road to intermodal,” Kolb said. “That’s one of our sweet spots and what we’re really good at.”
Benefits of Partnership
Partnering with Open Road Ventures provides Double-Stack with opportunities to accelerate its growth trajectory and unlock efficiency. Through ORV, Double-Stack gains access to additional financial and operational resources while reducing the administrative workload of operating a thriving freight brokerage. Kolb noted that his shared services agreement with ORV was a key selling point, according to the release.
“A lot of small-to-medium-sized business owners are attracted to the idea of being part of a larger organization,” Riccio said. “With Open Road Ventures, they can have the best of both worlds by having access to all the resources of a top tier, national freight brokerage while continuing their legacy, maintaining their brand identity and operational strengths.”
Rapid Growth Plans
According to the release, Double-Stack has its sights set on rapid growth.
“We’ve done some pretty significant projects, but now it’s time to really start cementing those into steady, consistent opportunities with Open Road Ventures,” Kolb said. “Double-Stack is very much intermodal-focused, but there are a lot of other offerings we can add to our portfolio to help us grow. Having access to ORV and the people behind it, our goals are now 10 times bigger than I ever envisioned.”
According to ORV, this is the first of many acquisitions.
“Our goal is to bring like-minded business owners together who possess unique logistics tools so that each one of these entities can benefit from each other’s expertise,” Riccio said. “We have a series of acquisitions in the works and look forward to bringing new partners onboard in the coming months.”
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
