The new chief executive office at BeavEx Inc., Terry Carter, said he wants to grab a piece of the rapidly growing e-commerce delivery market in an effort to rekindle growth at the Atlanta-based courier where he once served as chief operating officer.
Carter joined BeavEx in August after spending the past two years as president of Graebel Van Lines, a household good carrier in Dallas that shut down earlier this year. Prior to that, Carter worked at Brown Integrated Logistics, a truckload dedicated carrier based in Lithonia, Ga., and has extensive operating experience with package delivery carriers DHL Express and FedEx Ground.
The volume of e-commerce is simply blowing capacity out of the water.
Terry Carter, BeavEx Inc. CEO
Carter’s first tour at BeavEx began in 2012 shortly after the company was acquired by EOS Partners, a New York-based private equity investment firm.
He said that he wants to boost revenue by focusing more on meeting the need for delivery of goods purchased online.
“The final-mile piece is a growing industry and while it is a part of the business for less-than-truckload and parcel carriers, there are large organizations looking to companies like BeavEx to do more,” Carter said in an interview with Transport Topics on Sept. 26. “The volume of e-commerce is simply blowing capacity out of the water.”
BeavEx is one of only two or three companies out of a field of more than 7,000 that can provide national coverage for same-day delivery of packages, Carter said.
In 2016, BeavEx delivered 90 million packages through a network of 83 facilities and 4,000 owner-operator drivers with terminal operations in 38 states and the District of Columbia. The network can provide same-day delivery service to more than 77% of the U.S. population and next-day service to more than 97%.
BeavEx started out in 1989 as a small regional courier called Beaver Express that mainly hauled checks for banks. By 2001, BeavEx was generating annual revenue of nearly $200 million and the company today still supports the daily delivery of 40% of the nation’s checks, according to the company’s website.
BeavEx also handles about 12 million deliveries a year for pharmaceutical companies and provides inventory storage, returns management and other fulfillment services for a wide variety of industrial, retail and commercial customers.
Carter declined to say how much revenue BeavEx is generating, although he credits his predecessor, Rich Boland, who served as president and CEO of BeavEx since 2014, with successfully diversifying the company’s business and putting in place the management and infrastructure needed to handle more growth.
“I am honored to join the BeavEx team at this exciting time,” Carter said. “Our recently developed technology platform enables us to both deliver best-in-class logistics solutions while providing customer-facing analytics and transparency that enables them to enhance their own operations.”
Carter also cited new financial support for the business, in which the company’s current investors eliminated its third-party bank debt and has pledged support for further investments in its technology platform and new service offerings.