Who Owns Speed Commerce Company?

Speed Commerce Bundle

Get Full Bundle:

	SWOT	$15	$10
	5 FORCES	$15	$10
	BCG	$15	$10
	CANVAS	$15	$10
	4P's MIX	$15	$10
	PESTLE	$15	$10

TOTAL:

ADD TO CART

What Happened to Speed Commerce?

Understanding a company's ownership is crucial for grasping its strategic shifts and market performance. The story of Speed Commerce, a prominent player in the e-commerce services sector, is a compelling case study in corporate evolution. From its founding in 1982 to its eventual acquisition, the Speed Commerce SWOT Analysis reveals a dynamic journey through the ever-changing business landscape.

The transformation of the Speed Commerce company from a public entity to a private equity-owned enterprise highlights the impact of ownership changes. This exploration examines the Speed Commerce ownership structure, including key investors and the eventual sale of assets. We'll delve into the Speed Commerce history, including its executives, and the factors that shaped its trajectory in the competitive e-commerce market, answering questions like "Who acquired Speed Commerce?" and exploring the company's profile.

Understanding the ownership structure of the Speed Commerce company requires looking back at its beginnings. While specific details on the original founders' equity splits are not readily available, the company's early history as a public entity provides some insight. The company's journey involves significant financial activities and strategic decisions that shaped its ownership landscape.

In its early years, Speed Commerce was a publicly traded company. It traded under the NASDAQ ticker SPDC. This initial public offering set the stage for future investment and expansion. The company's evolution includes important acquisitions and funding rounds that influenced its ownership structure over time.

The company's early financial activities and acquisitions indicate a period of growth and expansion. Investments from institutional sources played a role in the company's development.

Initial Public Offering

Speed Commerce began as a public company, trading on NASDAQ under the ticker symbol SPDC. This initial structure is a key element in understanding the company's early ownership.

Private Offering in 2014

In 2014, Speed Commerce conducted a private offering. This involved institutional investors and raised approximately $10 million.

Series C Preferred Stock

The private offering included the sale of 3,333,333 shares of Series C Preferred Stock. This type of stock often comes with specific rights and preferences.

Warrants for Additional Shares

As part of the private offering, five-year warrants were issued. These warrants allowed investors to purchase an additional 833,333 shares of Common Stock.

Use of Funds

The funds raised were used to reduce indebtedness and for general corporate purposes. This financial strategy helped stabilize and grow the company.

Acquisition of Fifth Gear

In November 2014, Speed Commerce acquired Fifth Gear. This acquisition was valued at $55 million in cash, with a contingent payment in common shares.

Key Developments in Early Ownership

The early ownership of Speed Commerce was shaped by its public listing, private offerings, and strategic acquisitions. These events influenced the company's structure and financial strategy.

• Public Listing: Initially a public company, the ownership was distributed among shareholders.
• Private Offering: A private offering in 2014 raised capital from institutional investors.
• Acquisition of Fifth Gear: This acquisition brought in new leadership and expanded the company's service offerings. Matthew Konkle became the Chief Operating Officer in February 2015.
• Financial Strategy: The company used funds to reduce debt and for general corporate purposes.

Speed Commerce SWOT Analysis

• Complete SWOT Breakdown
• Fully Customizable
• Editable in Excel & Word
• Professional Formatting
• Investor-Ready Format

GET TEMPLATE ➔

The evolution of Speed Commerce ownership reflects a complex journey through financial challenges and restructuring. In June 2016, Garrison Investment Group LP acquired Speed Commerce Operating Company LLC for $150 million. This acquisition involved a $20 million capital injection from Garrison and the conversion of $130 million in debt to equity. This shifted control to Garrison Investment Group, leading to new C-level appointments within the company.

However, the company's financial struggles continued. By May 2016, Speed Commerce, Inc. filed for bankruptcy and was delisted from Nasdaq. The bankruptcy proceedings resulted in lenders, including Garrison Capital (GARS) and Credit Suisse BDC, gaining control of the company's assets in exchange for debt forgiveness. This marked a complete change in ownership, transferring control to its lenders. In 2018, following the cessation of operations by the previous Speed Commerce Operating Company in 2017, some of the intellectual property rights and two Missouri 3PL order fulfillment centers were purchased by new ownership, which chose to operate under the name Speed Commerce. Cary Samourkachian became the President and CEO of this re-established Speed Commerce.

Key Takeaways on Speed Commerce Ownership

The Speed Commerce ownership story is a prime example of how financial difficulties can reshape a company's structure. From a publicly traded entity to private equity control and eventually a new private ownership, the journey highlights the impact of acquisitions, bankruptcy, and restructuring.

• Garrison Investment Group's acquisition in 2016 marked a significant shift in control.
• Bankruptcy proceedings led to lenders taking over the company's assets.
• The re-establishment in 2018 under new ownership shows resilience despite challenges.
• The Speed Commerce company has a long Speed Commerce history.

Speed Commerce PESTLE Analysis

• Covers All 6 PESTLE Categories
• No Research Needed – Save Hours of Work
• Built by Experts, Trusted by Consultants
• Instant Download, Ready to Use
• 100% Editable, Fully Customizable

GET TEMPLATE ➔

For the current iteration of the Speed Commerce company, which emerged in 2018, Cary Samourkachian holds the position of President and Chief Executive Officer. He is responsible for steering the company's strategic direction and overseeing its growth initiatives. The leadership team also includes Tim Avant as Senior Director of Operations, Derek Ingram as Director of the Contact Center, Tim Jaeck as Director of Finance, and Laura Martin as Director of Client Services. These individuals constitute the core operational leadership of the current Speed Commerce.

The operational leadership structure reflects a shift from the company's earlier publicly traded status. The transition to private ownership under Garrison Investment Group, and subsequently to the current private ownership led by Cary Samourkachian, indicates that voting power is concentrated within the private entities and individuals who hold the ownership stakes, rather than being dispersed among public shareholders.

The Speed Commerce stock, as it existed before the acquisition and subsequent restructuring, had minimal institutional ownership. This contrasts with the current private structure where control resides with the leadership team and ownership groups. The shift towards private ownership has significantly altered the dynamics of voting power and shareholder influence within the Speed Commerce ownership structure. For insights into the company's strategic approach, consider exploring the Growth Strategy of Speed Commerce.

Key Leadership

The current Speed Commerce company is led by Cary Samourkachian as CEO, with a team focused on operations, finance, and client services. This structure highlights a shift from the company's past public status to a privately held entity.

• Cary Samourkachian: CEO
• Tim Avant: Senior Director of Operations
• Derek Ingram: Director of the Contact Center
• Tim Jaeck: Director of Finance
• Laura Martin: Director of Client Services

Speed Commerce Business Model Canvas

• Complete 9-Block Business Model Canvas
• Effortlessly Communicate Your Business Strategy
• Investor-Ready BMC Format
• 100% Editable and Customizable
• Clear and Structured Layout

GET TEMPLATE ➔

In the past few years, the focus for Speed Commerce has been on rebuilding and expanding its operations. The company, re-established in 2018, has been actively growing its infrastructure and team to serve the mid-market e-commerce sector. This expansion strategy included bringing on experienced executives from Rakuten Super Logistics after its sale in 2022.

Key personnel changes have been a part of Speed Commerce's growth strategy. Michael Manzione, formerly the CEO of Rakuten Super Logistics, joined Speed Commerce as COO in September 2022. Other significant additions to the team include Jason Chan as VP of Sales and Marketing, Gregg Beall as VP of IT, Robert Tillman as Senior Director of Operations, and Lauren Groh as Director of Finance. These appointments reflect a commitment to strengthening the company's leadership to support its expansion plans.

The e-commerce fulfillment services market, which Speed Commerce is a part of, is experiencing substantial growth. The global market was valued at USD $123.7 billion in 2024 and is projected to reach USD $468.44 billion by 2034. This represents a Compound Annual Growth Rate (CAGR) of 14.24% from 2025 to 2034. Key trends driving this growth include the integration of artificial intelligence (AI), the rise of social commerce, and the increasing importance of omnichannel shopping experiences. The business-to-business (B2B) segment dominated the market in 2024, accounting for over 60% of global revenue. For more information on the target market, consider reading this article: Target Market of Speed Commerce.

Expansion of Operations

Speed Commerce is expanding its operational capacity. This includes expanding facilities, hiring staff, and strengthening technology to onboard new clients. The company operates two fulfillment centers in Missouri and a contact center in Las Vegas.

Financial Performance

As of November 2024, Speed Commerce reported an annual revenue of approximately $75 million. This indicates a steady performance and growth within the competitive e-commerce fulfillment industry.

Future Plans

The company plans to open an additional contact center in the Philippines and a fulfillment center in Las Vegas. These initiatives highlight the company's commitment to scaling its services.

Industry Trends

Key trends in e-commerce include the rise of AI in personalization, the growth of social commerce, and the increasing importance of omnichannel shopping.

Speed Commerce Porter's Five Forces Analysis

• Covers All 5 Competitive Forces in Detail
• Structured for Consultants, Students, and Founders
• 100% Editable in Microsoft Word & Excel
• Instant Digital Download – Use Immediately
• Compatible with Mac & PC – Fully Unlocked

GET TEMPLATE ➔

Related Blogs