Hub Group

Last updated

Hub Group, Inc.
Company type Public
Nasdaq:  HUBG (Class A)
S&P 600 Component
IndustrySupply Chain
Founded1971;53 years ago (1971), in Hinsdale, Illinois
FounderPhillip Yeager
Headquarters
Downers Grove, Illinois
Number of locations
33
Area served
North America
Key people
Phillip D. Yeager (CEO)
Services
  • Supply chain solutions
  • Logistics
  • Transportation
RevenueDecrease2.svg US$3.7 billion (2019)
Increase2.svgUS$152 million (2019)
Increase2.svgUS$107 million (2019)
Total assets Increase2.svgUS$1.9 billion (2019)
Total equity Increase2.svgUS$1.07 billion (2019)
Number of employees
2,000+ (2019)
Website hubgroup.com
Footnotes /references
[1] [2]

Hub Group, Inc. is a transportation and logistics management company in North America. A publicly traded company with over $5 billion in revenue, [3] Hub Group was founded in 1971 by Phillip Yeager, and is currently run by his grandson, Phillip D. Yeager. [4] The company went public in 1996, [5] and is headquartered in Downers Grove, Illinois. [6]

History

Hub Group double stacked containers in Pleasanton, California Hub Group Intermodal Double Stack Containers.jpg
Hub Group double stacked containers in Pleasanton, California

In 1971, Phillip and Joyce Yeager founded Hub Group (then known as Hub City Terminals) in Hinsdale, Illinois. [7] The company was started with $10,000 and was located in a windowless, one-room office above a flower shop. [8] The 43-year-old Phillip Yeager quit his job at the Pennsylvania Railroad, where he had worked for 19 years, to create Hub Group. At the time of its formation, Hub City Terminals worked as a shipper's agent, which was an intermediary that booked intermodal transportation with railroads.

In 1975, Yeager and his wife set up a series of S corporations to expand their business. Each office operated separately and had its own profit-and-loss center. Hub City Terminals was renamed Hub Group in 1985. [9]

In 1995, Phillip Yeager’s son, David Yeager, became chief executive officer of Hub Group. He had been with the company since 1975, when he opened the company's Pittsburgh, Pennsylvania regional office. David Yeager became co-chairman of the company in 1992. [10]

In 1996, Hub Group held an initial public offering. [11] [12] A year later, the company became the first intermodal marketing company to top $1 billion in yearly revenue. Hub Group had 34 regional offices by 1998, when the company borrowed $100 million to begin purchasing all outstanding minority interests in the company's regional offices. [13]

The company moved from a geography-based operation with multiple regional offices to a centralized operation with a single profit-and-loss center headquartered in Lombard, Illinois in 2004. The reorganization effort allowed Hub Group to compete as a single network.

Mark Yeager was appointed president and chief operating officer in April 2005. Mark Yeager had joined Hub Group in 1992 and served as president of the company's field operations immediately prior to his appointment.

Hub Group acquired Memphis, Tennessee-based drayage company Comtrak Logistics for $48 million in 2006. [14] The two companies had worked together for over 20 years by the time of the acquisition. [15] The deal included Comtrak's client lists and proprietary transportation tracking software.

Hub Group founder and chairman Phillip Yeager died in October 2008 from complications following a heart attack. [16] Yeager was 80 years old. Company CEO David Yeager became chairman of Hub Group in November 2008.

In 2017, Hub Group acquired Estenson Logistics, a national provider of dedicated trucking with nearly 100 operating sites for around $306 million. [17] As a part of the acquisition, the name was retired and now operates under the Hub Group brand.

In 2018, Hub Group sold its Mode Transportation subsidiary [18] and acquired CaseStack Logistics, a consolidation and warehousing provider that predominantly operates in the consumer packaged goods and retail space, for $225 million. [19] CaseStack now operates under a product of Hub Group called CaseStack Retail Supplier Solutions.

In 2020, Hub Group acquired NonstopDelivery, LLC (NSD) for $94.5 million. [20] Founded in 2000, NSD’s delivery network includes over 170 agent locations, which enables service to all U.S. zip codes.

In 2021, Hub Group acquired Preston, MD-based Choptank Transport for $130 million cash-on-hand. [21] Founded in 2003, Choptank has a carrier network of over 200,000 carriers who specialize in refrigerated and frozen transportation.

In 2022, Hub Group acquired TAGG Logistics for $103 million cash on hand. [22] Founded in 2006, TAGG provides ECommerce and Omnichannel fulfillment with over 23 fulfillment locations.

In November 2022, David Yeager announced his retirement and his son, Phillip Yeager was announced as the new CEO beginning January 1, 2023. [23]

Related Research Articles

<span class="mw-page-title-main">FedEx</span> American freight and package delivery company

FedEx Corporation, formerly Federal Express Corporation and later FDX Corporation, is an American multinational conglomerate holding company focused on transportation, e-commerce and business services based in Memphis, Tennessee. The name "FedEx" is a syllabic abbreviation of the name of the company's original air division, Federal Express, which was used from 1973 until 2000. FedEx today is best known for its air delivery service, FedEx Express, which was one of the first major shipping companies to offer overnight delivery as a flagship service. Since then, FedEx also started FedEx Ground, FedEx Office, FedEx Supply Chain, FedEx Freight, and various other services across multiple subsidiaries, often meant to respond to its main competitor, UPS. The company is the fifth largest American-headquartered employer globally with 547,000 employees, and FedEx is also one of the top contractors of the US government and assists in the transport of some United States Postal Service packages through their Air Cargo Network contract.

<span class="mw-page-title-main">Ryder</span> American transportation company

Ryder System, Inc. is an American transportation and logistics company. It is known for its fleet of commercial rental trucks.

<span class="mw-page-title-main">FedEx Ground</span> American ground package delivery corporation

FedEx Ground, a subsidiary of the FedEx Corporation, is an American ground package delivery company headquartered in Moon Township, Pennsylvania, a suburb of Pittsburgh. The company began as Roadway Package System (RPS), founded in 1985 by transportation company Roadway Services Inc., later renamed Caliber System. FedEx bought Caliber in 1998 to complement its existing FedEx Express business and rebranded Caliber's RPS package delivery service FedEx Ground in 2000.

Team Global Express operates a logistics and global freight forwarding network spanning 150 countries, with over 20,000 customers. Toll has more than 16,000 team members across 500 sites.

<span class="mw-page-title-main">C. H. Robinson</span> Transportation and Logistics Company

C.H. Robinson Worldwide, Inc. is an American transportation company that includes third-party logistics (3PL). The company offers freight transportation, transportation management, brokerage and warehousing. It offers truckload, less than truckload, air freight, intermodal, and ocean transportation.

<span class="mw-page-title-main">Celadon Group</span> Former American truckload shipping company

Celadon Group, Inc. was a truckload shipping company located in Indianapolis, Indiana. It was one of the ten largest truckload carriers in North America and at its peak operated 4,000 trucks and owned an additional 11,000 trucks through Quality Equipment, its leasing division.

Blue Yonder Group, Inc. is an American supply chain management company operating as an independent subsidiary of Panasonic. Founded in 1985, the company is headquartered in Scottsdale, Arizona, with offices globally. Its acquisitions have included Yantriks, RedPrairie, i2 Technologies, Manugistics, E3, Intactix, and Arthur.

<span class="mw-page-title-main">TForce Freight</span> American trucking company formerly UPS Freight

TForce Freight, a subsidiary of TFI International, is an American less than truckload (LTL) freight carrier based in Richmond, Virginia. The company was founded in 1935 as Overnite Transportation, the name it used until 2006 when it was rebranded UPS Freight by new owner UPS. Its name changed to TForce Freight in 2021 when UPS sold the company to TFI.

New England Motor Freight, Inc. (NEMF) was a unionized less-than-truckload (LTL) and truckload freight carrier, based in Elizabeth, New Jersey. It was one of the largest LTL carriers in the US Northeast when it entered Chapter 11 bankruptcy in 2019 and subsequently shut down all operations in 2020.

Covenant Logistics Group, Inc. is an American company focused on truckload shipping. The company is headquartered in Chattanooga, Tennessee and is publicly traded on Nasdaq. The company provides temperature controlled trucking, regional delivery, and longhaul team driver delivery.

<span class="mw-page-title-main">Saia</span> American freight company

Saia is an American less than truckload (LTL) trucking company, that originated in Houma, Louisiana in 1924. With original operation occurring in Louisiana and Texas for the first fifty years, expansion came after 1980 when coverage began reaching into more states within the South. Further expansion happened through mergers with other companies, which allowed Saia to provide service for thirty six states. Saia ranks within the top ten of LTL carriers in the United States, with revenues of over $1.8 billion in 2020.

<span class="mw-page-title-main">Contract Freighters, Inc.</span> American truckload carrier commonly known as CFI

Contract Freighters, Inc. (CFI), a subsidiary of Heartland Express, is an American truckload freight carrier headquartered in Joplin, Missouri with operations in the continental US, Canada, and Mexico. Easily recognizable on the highway by their iconic bright red Kenworth trucks. CFI provides point-to-point, full truckload, dry van service, as well as refrigerated transport, and utilizes single drivers as well as two-person driver teams over long-haul routes—most commonly with each trailer containing only one customer's goods.

SNCF Logistics was the division of the SNCF group responsible for freight transportation and logistics.

TFI International Inc. is a Canadian transport and logistics company based in Saint-Laurent, Quebec, a borough of Montreal. It operates primarily in Canada, the United States, and Mexico through 4 business segments: less than truckload (LTL), package and courier, logistics, and truckload. It has Canada's largest LTL business, largest trucking fleet, and in 2021 was ranked 6th in terms of revenue among both LTL and truckload North American carriers. Its trucking fleet consists of over 14,000 company-owned power units, nearly 10,000 owner-operator tractors, nearly 50,000 trailers and over 200 straight trucks.

<span class="mw-page-title-main">Dematic</span> American supplier

Dematic is an American supplier of materials handling systems, software and services. With a growth rate of 21.2% in 2021 Dematic was listed as the world's second-largest materials handling systems supplier with a revenue of 3.2 billion USD. The company employs over 10,000 people and has engineering centres and manufacturing facilities in the United States, Germany, United Kingdom, Mexico, Australia, Belgium, China, Italy, Spain, France, Lithuania and Czech Republic. Its customer base includes small, medium and large companies in several other countries across six continents.

<span class="mw-page-title-main">CaseStack</span> American company

CaseStack was an American company that provided supply chain management (SCM) services, including warehousing, transportation, and supply chain management software (SCMS) to consumer packaged goods companies (CPGs). It used a proprietary software as a service platform for its collaborative retailer consolidation programs. CaseStack has been recognized in Food Logistics' Top 85 3PL Providers, Global Logistics & Supply Chain Strategies 100 Great Supply Chain Partners and Inbound Logistics' Top 100 3PL Providers.

<span class="mw-page-title-main">XPO, Inc.</span> American transportation company

XPO, Inc. is an American transportation company that conducts less-than-truckload shipping in North America. The company has headquarters in Greenwich, Connecticut, US and 564 locations globally.

Daseke, Inc. ( DASS-kee; is the largest owner and a leading consolidator of flatbed and specialized transportation in North America, comprising 16 operating companies with over 5,200 trucks and over 11,000 flatbed and specialized trailers.

Lineage Logistics is the world's largest temperature-controlled warehouse real estate investment trust (REIT), owned by Bay Grove, LLC. Entering international markets in 2017, Lineage grew into the world's largest refrigerated warehousing company with a capacity exceeding 3 billion cubic feet and acquiring more than 100 companies through the end of 2023. Lineage operates over 450 facilities across 18 countries, with over 26,000 team members globally in North America, Europe, and Asia Pacific.

<span class="mw-page-title-main">ArcBest</span> American transportation holding company

ArcBest Corporation is an American holding company for truckload and less-than-truckload (LTL) freight, freight brokerage, household good moving, and transportation management companies. Historically, the company also owned furniture, banking, and other diverse subsidiaries. The company ranked fifteenth among for-hire carriers in the US for 2020 according to industry journal Transport Topics.

References

  1. ↑ "US SEC 10-K Hub Group, LLC" (PDF). U.S. Securities and Exchange Commission. March 2016. Retrieved April 21, 2016.
  2. ↑ "Hub Group". Fortune. Retrieved January 25, 2019.
  3. ↑ "Hub Group, Inc. Company Profile Dun & Bradstreet" . Retrieved August 17, 2023.
  4. ↑ "Hub Group Names Phillip Yeager CEO as David Yeager Retires". Wall Street Journal. Retrieved August 17, 2023.
  5. ↑ "Form 10-K Hub Group, Inc". Securities and Exchange Commission. Retrieved June 8, 2014.
  6. ↑ "Form 10-K". www.sec.gov. Retrieved February 13, 2024.
  7. ↑ Joseph Bonney (October 20, 2008). "Hub Group founder Phillip C. Yeager dies". Gulf Shipper.
  8. ↑ "Let's Build Two: Hub Group Breaks Ground On Replica Headquarters Building". Informed Infrastructure. June 29, 2020. Retrieved January 4, 2021.
  9. ↑ "Jobs at". www.theladders.com. Retrieved January 4, 2021.
  10. ↑ "David P. Yeager". Hub Group. Retrieved January 4, 2021.
  11. ↑ "History of Hub Group, Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved January 4, 2021.
  12. ↑ Mark Zaloudek (October 8, 2008). "Fortune 1,000 firm grew from a 'leap of faith'". Sarasota Herald-Tribune.
  13. ↑ "Hub Group – Lombard, IL – Company Review". www.truckingtruth.com. Retrieved January 4, 2021.
  14. ↑ "StackPath". www.mhlnews.com. Retrieved January 4, 2021.
  15. ↑ Staff, FreightWaves (January 20, 2006). "Hub Group acquires assets of Comtrak". FreightWaves. Retrieved February 13, 2024.
  16. ↑ Tribune, Chicago. "Death Notice: PHILLIP C. YEAGER". chicagotribune.com. Retrieved January 4, 2021.
  17. ↑ Topics, Transport (May 26, 2017). "Hub Group to Acquire Estenson Logistics for $306 Million". Transport Topics. Retrieved January 4, 2021.
  18. ↑ "Update: Hub Group sells Mode Transportation for $238.5 million to PE Firm". FreightWaves. August 17, 2023. Retrieved August 17, 2023.
  19. ↑ "Hub Group to acquire CaseStack". www.logisticsmgmt.com. Retrieved January 4, 2021.
  20. ↑ "Hub Group's $95M acquisition is path to being a last-mile market leader". FreightWaves. December 9, 2020. Retrieved January 4, 2021.
  21. ↑ "Hub Group Acquires Choptank Transport". Transport Topics. October 19, 2020. Retrieved January 19, 2022.
  22. ↑ "Hub Group announces acquisition of TAGG Logistics". www.logisticsmgmt.com. Retrieved August 31, 2022.
  23. ↑ Kellaher, Colin. "Hub Group Names Phillip Yeager CEO as David Yeager Retires". WSJ. Retrieved February 13, 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.