Skip to content
THE LEDGER
MKM-R-2026-014New edition: The State of Mid-Market Transformation 2026
01 / 04
MARKHAMLet’s talk
← EngagementsCase file — Logistics · 2024–2025MKM-E-2024-118 · Client-approved · Anonymised

Rebuilding a $220M logistics operating model

ClientNational contract logistics group
SectorLogistics
Business areaTransformation
Period2024–2025
+4.2ptEBITDA margin against the month-0 baseline
−31%Order-to-delivery time across the unified network
34 → 6Days of median cross-network decision latency
98.6%Customer retention through the consolidation

Audited under the Markham Verification Standard at month 18. Full audit trail available under NDA.

01

The situation

A family-owned contract logistics group had grown from $90M to $220M in six years, mostly by acquisition. Revenue scaled. The operating model did not. Three networks ran on three planning systems, pricing was inherited deal by deal from whichever acquisition had signed it, and margin had thinned for eight consecutive quarters while the top line kept rising.

The board's instinct was a cost programme. The harder question was structural, and it was this: could a business assembled from acquisitions run as one network without losing the customer relationships that each of those acquisitions had brought with it? Sixteen improvement initiatives were already in flight. None was finished.

04

Impact in detail

MeasureMonth 0Month 18Change
EBITDA margin11.1%15.3%+4.2pt
Order-to-delivery, median74 hrs51 hrs−31%
Cross-network decision latency34 days6 days−82%
Annual margin leak, priced$11.4M$2.1M−$9.3M

Baselines fixed and audited before phase one. No figure above is self-reported.