Estes Express Lines

Optym lands strategic investment from industry backer Venture 53

Optym, a provider of solutions for enhancing efficiency, on Tuesday announced it has secured a strategic investment from Venture 53, an industry fund. This investment will support Optym in further developing optimization tools to address the intricate challenges faced across various modes of transportation. Terms of the investment were not disclosed.

“When choosing a capital partner, it’s important to work with a team who can provide strategic advice with a deep understanding of your industry,”...

https://www.freightwaves.com/news/optym-lands-strategic-investment-from-industry-backer-venture-53

Check Call: Enter the ‘Glengarry Glen Ross’ era

Welcome to Check Call, our corner of the internet for all things 3PL, freight broker and supply chain. Check Call the podcast comes out every Tuesday at 12:30 p.m. EDT. Catch up on previous episodes here. If this was forwarded to you, sign up for Check Call the newsletter here.

This week there is a special treat in the form of a webinar for brokers: 4 Keys to Broker Success in the Challenging Freight Market, scheduled for 2 p.m. EDT Thursday. Special guests from Tai Software and SIO Logistics...

https://www.freightwaves.com/news/check-call-enter-the-glengarry-glen-ross-era

Analysts raise LTL estimates heading into Q3 reports

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Analysts are raising earnings expectations for less-than-truckload carriers heading into the...

https://www.freightwaves.com/news/analysts-raise-ltl-estimates-heading-into-q3-reports

Estes’ $1.525B stalking horse bid for Yellow’s terminals wins out

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An order was entered in a Delaware bankruptcy court Thursday naming less-than-truckload carrier...

https://www.freightwaves.com/news/estes-1-525b-stalking-horse-bid-for-yellows-terminals-wins-out

Yellow asset sales, bankruptcy financing approved

A tidy unwind of Yellow Corp.’s estate appears on track, a Friday hearing in a Delaware bankruptcy court revealed.

Counsel for Yellow said all objections for the asset bidding procedures, the debtor-in-possession (DIP) financing and the use of cash collateral to fund the wind down have been resolved. Judge Craig Goldblatt approved the orders.

Yellow attorney Allyson Smith, a partner at Kirkland & Ellis, said the asset sale process is “well underway,” noting “hundreds of interested parties” have...

https://www.freightwaves.com/news/yellow-asset-sales-bankruptcy-financing-approved

Estes sets new floor of $1.525B for Yellow terminals

Private less-than-truckload carrier Estes Express Lines’ new bid of $1.525 billion for Yellow’s terminals is now the front-runner, court documents revealed Wednesday.

A filing in a Delaware bankruptcy court showed the carrier entered a stalking horse offer eclipsing the $1.5 billionbid made by rival Old Dominion Freight Line (NASDAQ: ODFL). Estes started the bidding war in mid-August when it made a $1.3 billion offer.

The motion showed Yellow has designated the Estes offer as the best so far and...

https://www.freightwaves.com/news/estes-sets-new-floor-of-1-525b-for-yellow-terminals

Optym expands partnership with Estes Express for LTL optimization

Optimization solutions provider Optym has partnered with Estes Express Lines to provide the company with its full suite of products, aiming to generate “continuous improvement of both our systems and processes alike,” said Estes CIO Todd Florence in a release on Tuesday.

“Our solutions save over 10 million miles daily for our clients, creating efficiencies that lower transportation costs, minimize the risk of damage and claims, and improve sustainability, which benefits shippers, carriers, and...

https://www.freightwaves.com/news/optym-expands-partnership-with-estes-express-for-ltl-optimization

Old Dominion ups ante with $1.5B bid on Yellow’s terminals

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Less-than-truckload carrier Old Dominion Freight Line entered a $1.5 billion bid for Yellow Corp.’s...

https://www.freightwaves.com/news/old-dominion-ups-ante-with-1-5b-bid-on-yellows-terminals

Yellow chooses DIP lenders; Estes sets floor for terminals at $1.3B

Yellow Corp. has chosen a $142.5 million bankruptcy financing package from Citadel and MFN Partners, according to a Thursday status update in a Delaware court. The proceeding also revealed that less-than-truckload carrier Estes Express Lines has set a floor valuation for Yellow’s 166 terminals by providing a $1.3 billion stalking horse bid.

Miami-based hedge fund Citadel will front $100 million in debtor-in-possession (DIP) financing with Boston hedge fund MFN providing the remainder. MFN has...

https://www.freightwaves.com/news/yellow-chooses-dip-lenders-estes-sets-floor-for-terminals-at-1-3b

Check Call: Let’s get ready to rumble

Welcome to Check Call, our corner of the internet for all things 3PL, freight broker and supply chain. Check Call the podcast comes out every Tuesday at 12:30 p.m. EST. Catch up on previous episodes here. If this was forwarded to you, sign up for Check Call the newsletter here.

Inside this edition: FTC proposes to ban noncompetes; the nonshortage shortage of medicine; and Estes moves to hand down the family business. 

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The time has arrived. The Federal Trade Commission has proposed a rule...

https://www.freightwaves.com/news/check-call-the-rise-of-nearshoring

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