Wintrust Congratulates MoLo Solutions on Acquisition After Four Years of Partnership

CHICAGO, Nov. 4 – Wintrust Bank would like to congratulate Andrew Silver, Matt Vogrich, and the rest of the team at MoLo Solutions for successfully closing the sale of the company to ArcBest® (Nasdaq: ARCB), a national leader in supply chain logistics.

MoLo Solutions is a Chicago-based truckload broker founded in 2017.  Since its founding, the company has consistently outpaced industry benchmarks by rapidly growing its customer base and revenue – recently ranking #1 in the Transportation & Logistics industry on the “2021 Inc. 5000 Fastest-Growing Private Companies in America.” MoLo’s revenue in 2020 equaled $274 million, an increase of more than 100% over the previous year, and expects revenue of approximately $600 million in 2021.

Wintrust Bank is proud to have been MoLo’s primary banking partner during the company’s incredible four year journey from start-up to a leader in the domestic logistics industry. 

“Our team at Wintrust has provided the working capital financing to a number of companies in the 3rd party logistics space over the last decade.  Even with that level of industry experience, MoLo has impressed us, time and again, with their ability to not only meet but exceed their growth targets,” said John Marrinson, Executive Vice President of Wintrust Receivables Finance. 

“I have no doubt that the transaction with ArcBest will give the team at MoLo additional resources and capabilities, which will allow them to continue to provide best in class service to both their shipper and carrier partners, while they continue to grow at scale,” Jason LeuVoy, Senior Vice President of Wintrust Business Credit said. “Our group here at Wintrust has been proud to partner with MoLo over the last four years, and we want to wish Andrew, Matt and the rest of the MoLo team the best of luck as they embark on this new chapter of the business.”

Andrew Silver, CEO of MoLo said “Wintrust has been a great banking partner for us since we founded the company.  Time and again, John and his team came through for us when we needed them.”  Silver added, “Having the support of a bank like Wintrust has been a key, and sometimes underappreciated aspect, of our growth over the last 4 years.”

Matt Vogrich, President & COO of MoLo added “It was clear from our very first meeting that the Wintrust team has a deep understanding of the logistics and transportation industry. The bank understood our vision of where we wanted to take the company, and the level of support it would require from a banking partner to make our vison a reality.” Vogrich added “We are grateful for our partnership with Wintrust as their support has allowed us to spend the last four years building a great organization, with a vision to create the best experience in the industry for our employees, carriers, and shipper partners.”

About ArcBest

ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with over 14,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse, fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages their full suite of shipping and logistics solutions to meet customers’ critical needs, each and every day. For more information, visit arcb.com.

About Wintrust Receivables Finance

Wintrust Receivables Finance provides aggressively structured working capital lines of credit from $1 million to $50 million for middle-market companies around the country that are unable to obtain the level of financing they need through a more traditional commercial bank underwriting.

About Wintrust

Wintrust is a financial holding company with assets of over $47 billion whose common stock is traded on the NASDAQ Global Select Market under the symbol WTFC. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while providing service-based community banking to every customer. Wintrust operates fifteen community bank subsidiaries, with over 180 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units.