Terra Worldwide Logistics announced Tuesday that three years after its founding, the supply chain solutions company has eclipsed $1 billion in trailing 12-month revenue.
“Terra is the largest transportation solutions company … that you’ve probably never heard of,” said Jim Briles, founder and chief operating officer, after the company documented triple-digit year-over-year growth since 2019. “Our focus has always been on our customers and solving their needs. That’s what got us here and will continue to push us forward.”
Linking its ocean, airfreight, domestic and customs brokerage offerings, leveraged with its cloud-based platform powered by logistics data integrations, Atlanta-based Terra has seen shippers average a 3.2% increase in profit while global shipping prices saw historic volatility.
“Our data exchange combined with our operational excellence has propelled our growth during one of the most tumultuous times on record for logistics,” said Devon Wijesinghe, chief transformation officer. “In markets where supply is tight, it helps our customers secure capacity, and when space is open, it allows them to receive the most competitive rate.”
Talk of a sale
Coincidentally along with its revenue announcement, Terra is now considering a sale, according to sources familiar with the matter.
In a Bloomberg report, sources say the global logistics firm is collaborating with a financial adviser to review a number of offers from other logistics firms and investment funds, valuing the business at about $1 billion.
Asked about the rumors by Bloomberg News, Briles said, “We evaluate different solutions of investment capital from time to time. … Our focus is solely how do we serve our customers better.”
Sources say that no final decision has been made.
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