Posted by Panton Equity Partners in Press Release
CHATTANOOGA, TN.—Xpress Global Systems (“XGS”), the premier provider of transportation logistics’ services to the floorcovering industry, today announced the appointment of Darrel Harris as Chief Executive Officer, effective November 7, 2016. XGS has also appointed Derek Bartley as VP of Process Improvement.
Murad Karimi, XGS Executive Chairman, said, “Darrel is an exceptionally strong transportation executive with 20 years of LTL experience who brings a results-oriented approach and proven track record of success. We believe he will serve as an excellent chief executive in leading the company and providing a guiding voice for XGS moving forward. We welcome Darrel’s experience and leadership to the XGS family.”
“It is an honor to be selected for this role. I look forward to working with the outstanding team of talented employees at XGS, and to partner with the Board to drive our strategic direction for continued growth,” said Darrel Harris, Chief Executive Officer.
Darrel started his career at American Freightways, which was acquired by FedEx Freight, where he spent 17 years. Most recently, Darrel was General Manager of CRST Dedicated Services, Inc., in Cedar Rapids, IA. Darrel, his wife, and his 4 year old daughter will relocate to the Chattanooga area.
Panton Equity Partners (“PEP”) and Mosaic Investments (“Mosaic”) acquired the Tennessee-based transportation and logistics services firm XGS from U.S. Express Enterprises Inc. in April 2015.
About Panton Equity Partners
Panton Equity Partners (“PEP”) is an Atlanta-based boutique private equity firm that makes control equity investments in lower middle market niche service businesses with enterprise values up to $150 million. PEP has developed and successfully implemented its unique investment strategy – Asymmetric Risk Investment Strategy which minimizes capital risk and maximizes the potential for outsized risk-adjusted returns. For more information, please visit www.pantonequity.com
About Mosaic Investments
Mosaic Investments, Inc. (“Mosaic”) is a private investment firm based in Atlanta, Georgia that specializes in acquiring and managing operating businesses and real estate throughout the Southeast. Mosaic invests in a variety of transactions including growth capital, minority investments, and buyouts in primarily “old economy” businesses. For more information, please visit www.mosaic-inv.com.