World-Leading Logistics Networks Strike Ground-Breaking Deal
WCA acquires majority ownership of EGLN, allowing members to benefit from a wide range of market-leading benefits, services and solutions
HO CHI MINH CITY, Vietnam, Oct. 11, 2017 /PRNewswire/ -- Elite Global Logistics Network (EGLN) announced to its membership during its annual conference in Vietnam this week, that it has reached a formal agreement for WCA Ltd to acquire a majority interest in the rapidly-growing network.
Formed in 2015, EGLN has seen its membership around the world flourish to now encompass 332 memberships in 131 countries. The acquisition by WCA will enable the network to move to the next stage of its development and provide member companies with increased opportunities for business expansion and organic growth.
Roy Stapleton will remain as President of EGLN and will continue to set the network's strategy as well as overseeing day-to-day operations.
"This new agreement is unprecedented in the history of freight networks. EGLN is proud to become a part what we believe is a 'win-win' solution for our members and the network," said Stapleton.
"The suite of benefits evolved by WCA has allowed it to stand out as a networking leader, and EGLN members will benefit from these obvious synergies offered by this unique partnership."
WCA Chairman and founder David Yokeum stated that 2018 will prove to be an exciting year for EGLN, following the formal commencement of the agreement on 1 January.
"Roy has, over many years, built a deservedly strong reputation for providing independent forwarders with high quality environment in which members feel secure and confident that their business will grow," said Yokeum.
"EGLN will retain its unique ethos and management style, but by adding many of WCA's valued benefits and attributes, alongside strong backroom and financial support, EGLN has the tools to embark on an exciting new phase in its development."
About Elite Global Logistics Network (EGLN):
ELITE Global Logistics Network (EGLN) is a unique 6 Star "Best in Class" freight and logistics network where members join by invite only.
EGLN members are highly respected and financially secure organizations independently owned and specialized in the global logistics industry. This includes freight forwarders, transportation intermediaries and associated companies.
WCA is the world's largest and most powerful network of independent freight forwarders, with over 6,600 member offices in 193 countries around the world. The combined logistics might of WCA membership exceeds that even of the world's largest multinational freight forwarders. WCA members' global market share is increasing significantly every single year.