MARCH 30, 2020
LAZER SPOT MOVES HIGHER ON TRANSPORT TOPICS TOP 50 LIST
Lazer Spot moved to 47th on Transport Topics’ Top 50 Logistics Companies, announced March 30, 2020.
President and CEO Adam Newsome said, “It’s our second year on the list, and we moved up two spots. This was a phenomenal year for Lazer Spot. We made our first acquisition, Mesko Spotting Service, in June, and then acquired the assets of PHB Transport in March of this year. Lazer Spot itself became a portfolio company of Harvest Partners in the fourth quarter of 2019.
“We’re expecting even bigger things in 2020, as we expand our Canadian business. We’re looking to do more acquisitions, and grow with our existing customer base, as we’ve done each year since our founding in 1996. There’s a lot of angst in the world right now, as COVID-19 causes people to feel stress and anxiety. But we believe Lazer Spot is well-positioned to thrive, and we’re excited to see what the rest of this year brings.”
Transport Topics noted that “in recent years, many of the largest 3PLs in North America have sought to improve customer service and gain a market advantage through investment in technology.” Newsome said, “We’re a prime example of that. We’ve invested in technology for our equipment, our key reporting platforms, and training in order to give ourselves and our customers more insight and greater visibility into how we’re performing. It’s making us stronger every day.”
Armstrong & Associates, a market research and consulting firm, told Transport Topics it is expecting negative impacts to the U.S. 3PL market as the COVID-19 virus disrupts domestic operations and negatively impacts global and domestic supply chains. The firm projects that once economic activity picks up, most likely in the third quarter, there will be significant order volume to replenish inventories and fill back orders. Armstrong predicts the overall market in 2020 should be between a 2% decline and 3% growth.
Newsome said, “That’s a pretty well-reasoned analysis. We’re part of a highly fragmented industry, and companies’ ability to survive and thrive over the next 12 months will depend on their ability to be extraordinarily nimble in adapting to customer needs. That’s Lazer Spot’s strong suit. We’ve weathered some storms since our founding 24 years ago, and we expect to weather this one.”
Companies on the list are ranked based on net revenue for the most recent 12-month period. Transport Topics, a news leader in freight transportation for 80 years, ranks the top logistics companies, and also features breakdowns of the top brokerage firms, air and ocean freight forwarders, dry storage and refrigerated warehouse operators, and dedicated contract carriage service providers in North America.
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