This fireside chat recap is from Day 2 of FreightWaves’ F3 Virtual Experience.
FIRESIDE CHAT TOPIC: How a hybrid tech strategy leads to success
DETAILS: FreightWaves CEO Craig Fuller talks with CarrierDirect CEO Peter Renstchler on technology trends in the brokerage industry, the 3PL M&A environment and changing growth strategies to reach maximum value.
INTERVIEWER AND SPEAKER: Craig Fuller, founder and CEO of FreightWaves, and Peter Rentschler, CEO of CarrierDirect.
BIO: Rentschler is the CEO of Chicago-based CarrierDirect, a management consulting and customer technology development firm that focuses on transforming freight and logistics. The company has built leading strategies and technologies for industry players including J.B. Hunt, FedEx, GE Transportation, Covenant, Werner, Warburg Pincus and Worldwide Express.
KEY QUOTES FROM RENTSCHLER:
“I think what we are seeing is, a hybrid model is really the way of the future. Some of the new technology that has come into our space has enabled traditional brokers and 3PLs to compete in the digital marketplace space.”
“I have always been incredibly bullish on the idea of an asset-backed logistics business. Werner is rebranding itself from a trucking company to a logistics company that has trucks. … I think at one end of the spectrum you have pure digital brokers and then more legacy brokers, and at the other end you have asset players blending into brokerage. I agree that their multiples are going to start blending.”
“What I think is so interesting is, and speaks to M&A in our space right now, is a fast-growing, value space organization is actually worth more than a slowly growing, stable, profitable business. It’s certainly an interesting time to be in this space.”