- Inc. 5000 honoree and Top 100 Logistics -
Source Logistics, LLC (“Source”) announced today that it has been named one of Inc. 500/5000 fastest-growing private companies list and now ranks among the top 100 Logistics & Transportation companies in the country. The 2011 list measured revenue growth from 2007 through 2010. To qualify, companies must have been in operation during this period of time, based in the U.S., privately held, for profit, and employee based.
Source saw its revenue grow 82% during this period of time and is expected to approach $20 million in revenue by the end of 2011. The company manages over 600,000 sq. ft. in warehouse space across four locations – Los Angeles, Laredo, Houston and New Jersey – providing a nationwide foot print for its customers, who continue to grow rapidly, demanding expanded services. The company provides valuable logistics solutions to leading Mexican and Latin American consumer product manufacturers exporting to U.S. retailers, who have surpassed most forecasts regarding trade volumes in the last few years.
Source was founded in 1999 by Marcelo Sada, Raul Villarreal and Fernando Ramirez who established their first warehouse in Los Angeles to provide Mexican manufacturers looking to export into the complex U.S. network of food and consumer product retailers throughout the country, a complete logistics solution, including storage and freight services.
Marcelo Sada, Source’s President and Chief Executive Officer, remarked, “We are pleased to have been able to stick to our business plan and service rapidly growing volumes of customers exporting Latin American products to the U.S. While the U.S. customers saw their volumes drop in 2008 and 2009 we saw substantial growth from large Latin American consumer brands.”
In addition, Mr. Sada commented, “We had bootstrapped the Company with our own capital and in the last four years with our private equity partner The Central Valley Fund (‘CVF’), who has helped propel our growth with their capital and resources. To allow ourselves to scale and accommodate the solid double-digit, we have experienced and continue to see in the foreseeable future, it is nice to have an investment partner.”
Jose Blanco, a partner with CVF, stated, “Source’s management team continues to build a very solid company, based on quality products and first-rate customer service.” According to Jose Blanco, “The macro environment supports the case for continued demand for quality 3PL logistics services – a rapidly growing U.S. Hispanic population, new trade pacts with Colombia and Panama, U.S.-Mexico trade doubled the last 10 years and evolving U.S. tastes and preferences (i.e.- the U.S. consumes more salsa and tortillas than ketchup or sliced bread since 2006).”