Combined entity offers the industry's most comprehensive supply chain logistics visibility and security solution, managing risk throughout the global cargo journey
AUSTIN, Texas, Feb. 7, 2023 /PRNewswire/ -- Overhaul, a software-based, supply-chain visibility, risk, compliance, and insurance solution for the world's leading brands, has completed the acquisition of SensiGuard ® security services from Sensitech ®. With this addition, Overhaul takes a commanding share of the supply chain security market and cements its position as the leader in protecting and optimizing global supply chains.
"This is a transformative acquisition for Overhaul," said Barry Conlon, Founder and CEO of Overhaul. "It expands our global footprint, adds hundreds of years of combined supply chain experience to our team, and brings an impressive roster of international clients under our umbrella. With this acquisition, we're not only the largest supply chain security provider, but the most comprehensive providing needed resilience with immediate corrective action. Our platform spans visibility, risk, compliance, and insurance and is well positioned to help our customers safeguard their cargo and discover efficiencies and opportunities on a global scale."
The acquisition extends Overhaul's global footprint, adding established offices in Brazil, Mexico, and Czech Republic. The company now has the same level of infrastructure across North America, Latin America, and Europe, increasing its ability to manage truly global supply chains. The deal also expands Overhaul's book of business, adding some of the biggest names in tech, pharma, and other logistics service providers.
Cargo theft continues to be an ongoing issue plaguing global shippers; as thieves adjust their tactics and focus on high value goods, the need for additional security to protect in-transit cargo is paramount. With the addition of SensiGuard, Overhaul will offer a powerful visibility engine and 24/7 risk monitoring capabilities, providing shippers with a comprehensive, real-time solution for mitigating the risks associated with theft, damage, chain of custody, and other cargo security threats no matter where the load may be throughout the globe.
"This acquisition is a win for our customers and our employees," said Mark Serafine, Managing Director, SensiGuard. "Our customers and high value shippers will now have access to a more comprehensive set of services across cargo security. We're seeing increased demand amidst serious integrity concerns, and we now have the largest team of world-class supply chain security experts addressing these challenges. Together with Overhaul, we'll advance and deliver the valuable technology to reduce loss ratios and streamline supply chains."
The deal also more than doubles Overhaul's headcount, adding over 350 employees who support SensiGuard services, bringing an incredible depth of experience and talent in helping companies take control of managing their supply chain risk. SensiGuard's success is built on a foundation established by the same leadership who will join Overhaul and continue to elevate the company's technology and service.
"SensiGuard's proven track record as a leading electronic freight security service for more than two decades speaks for itself," said David Broe, Chief Operating Officer of Overhaul. "Cargo theft is a multi-billion dollar industry and that is just one of the many growing risks to cargo security and integrity that global shippers and logistics providers are grappling with on a daily basis. It is imperative that service providers not only keep pace, but stay ahead with best practices and prevention protocols to meet the challenges of maritime and road transport. With our combined expertise, we can better serve a global market faced with unprecedented risk."
About Overhaul
Founded in 2016 and headquartered in Austin, Texas, Overhaul is the only device-agnostic supply chain visibility and risk management software company. As the global leader in in-transit supply chain risk management, Overhaul transforms real-time visibility into risk management, compliance, and insurance solutions for its partners. Its software-based approach offers high configurability and efficient time-to-value to supply-chain organizations without heavy tech. Overhaul is a trusted provider for Fortune 100 companies moving freight globally across industries, such as pharmaceutical and healthcare, technology, logistics, and food and beverage. Customers include Microsoft, Bristol Myers Squibb and many others. For more information, visit over-haul.com, and follow them on LinkedIn, Twitter, and Facebook.
Logo - https://mma.prnewswire.com/media/884683/Overhaul_Logo_v1.jpg
View original content:https://www.prnewswire.co.uk/news-releases/overhaul-acquires-sensiguard-to-become-largest-in-transit-supply-chain-cargo-security-provider-301739980.html
