Ridgemont-backed Worldwide Express completed the merger with CVC-backed GlobalTranz Enterprises in a $4bn deal.

Ridgemont-backed Worldwide Express, a global logistics company, completed the merger with Providence Equity and PSG-backed GlobalTranz Enterprises, a provider of transportation and logistics services, in a $4bn deal. The transaction is sponsored by a consortium led by CVC Capital, Providence Equity Partners and PSG. “The opportunities for growth by uniting our resources will dramatically increase our ability to drive technology, further strengthen our carrier partnerships and allow us to provide a deeper offering to our customers. The opportunities for our employees, franchises and independent agents are now greatly expanded,” Tom Madine, Worldwide Express CEO.