Get to know Matt Silverberg
We get to know Matt Silverberg, CEO of Associated Couriers, subsidiary of Life Logistics Global. Associated Couriers is the US subsidiary that Vision Logistics is now reporting to! Matt tells us about his background, and a history of Associated Couriers & LLG, as well as his vision for the future of Vision Logistics! Read on below!
Hi Matt! Thanks for chatting with us. Do you mind telling us a little about yourself?
I was born in a town called Troy, MO located 90 kilometres north of St. Louis. I grew up with 3 sisters, 2 horses, and a dog on about 3 acres of land. I went to college at Central Methodist University and majored in Psychology. From there, I went on to obtain my Masters in Clinical Psychology from Forest Institute. After a few years in the non-profit sector, I ended up joining Associated Couriers 8 years ago as my father-in-law was having some issues in the business. I immediately fell in love with the fast-paced logistics environment, saw what the company could become, and the rest was history.
I am married to the most amazing woman on the planet, Haley, and God has graced us with two equally amazing daughters. Mia is 8 years old and Evie is 6 years old. We also have a golden doodle named Shila that is 2 years old. My hobbies consist of working out, working on the business, golf, boating, vacationing, and spending quality time with my family.
For everyone at Vision, can you give us an overview of Associated Couriers?
Associated Couriers was founded in 1977 by Don Anderson (my wife’s grandpa). Don built the company by being the first delivery provider for radiopharmaceuticals in the United States. His son, Tony Anderson, took over in 1992 and I joined the company in 2013 taking over shortly after. When I joined AC, we only did radiopharmaceuticals throughout our various depots. We were around $10mm USD in annual revenue with 60% of our business with one customer. I set my focus on diversifying our portfolio into other verticals and service offerings.
Today, we do over 3 million deliveries annually for a variety of sectors, mostly in life sciences and healthcare. Our total stateside revenue for FY22 will be approximately $85mm. Of that, we still operate an eCommerce network that represents $15mm in annual revenue. We currently have 197 employees and over 1,500 drivers throughout our network.
How did Associated Couriers end up as part of Life Logistics Global (LLG)?
My father-in-law wanted to retire and I had aspirations to continue our growth path, which required cash investment. I proposed a solution to buy out his majority shares by seeking a private equity firm. Many of the companies I talked to were taking a short-term approach of a 3 to 5-year investment. They were just making a financial play to make a quick buck. That didn’t sit right with me as I wanted to protect our people, our customers, and the reputation we all worked so hard to build. I met LLG and they aligned with me culturally. In addition, they understand it takes time to build something truly valuable, so they hold their investments for an average of 10 to 15 years. Since we have partnered with LLG, we have acquired 2 companies in the United States and are currently looking to acquire one at the end of this month.
What initially attracted Associated Couriers to Vision Logistics?
Initially, Peter and I really hit it off culturally. His views on people and how to run a business were very much in line with me philosophically. From there, once I got to understand the Vision network more, it reminded me of exactly how Associated Couriers was when I joined. Roughly the same size with respect to revenue, total headcount, and depots. Once I came for a visit, I fell in love with the people and saw how organised your operations were. I knew at that point that Vision could follow the same path for growth that AC has over the last 8 years. The Vision network is the best-kept secret in the UK. My goal would be to help support your sales & marketing efforts to accelerate diversification. Through that, I hope we create more opportunities for career growth for every employee in the company.
Where do you see Vision in the next three years?
As stated, I would like to see Vision grow to create more opportunities for everyone in the company. We have a concept we preach here on conscious capitalism. If the business does good, so should her people. We are going to target more highly specialised life science and healthcare customers that are in line with the Associated Courier’s mission and vision statements.
New Mission Statement
To provide unmatched logistics excellence that enables our customers to deliver lifesaving diagnostics and therapies to their patients anywhere in the world.
New Vision Statement
To be recognised as the leading company that sets the standard for life science and healthcare logistics providing world-class customer service through continuous improvement guided and driven by integrity, employee engagement, patient experience and radical customer transparency.
This is not to say that we won’t grow in the eCommerce and fulfilment business. Quite the contrary actually. We’ll continue to grow that business because Vision is great at it and it is profitable. Every company needs a true north star though and targeting growth in sectors that help improve patient lives will be ours. Of course, this will take some time to implement the proper sales and marketing strategy.
From a growth perspective, we are hopeful to achieve $18mm in revenue by 2025. The leadership team is currently working on a strategy to execute this goal. That said, my number one priority will always be our people and our customers. If that means we can’t grow as fast, then so be it. If we can grow faster, great. To be recognised as a company that sets the standard for life science and healthcare logistics we can never sacrifice service for growth.
Can you share with us one idea, quote, or resource you find invaluable? I.e a book, podcast, app, idea, fact.
I’m a huge Jim Collins fan. I built the foundations of our growth from the concepts in his book Good to Great. Regarding a quote, I’d say my favourite one is by John Doerr – “Ideas are easy; execution is everything.” My favourite podcast is the School of Greatness by Lewis Howes.
Matt, thanks for chatting with us! It’s been a pleasure, we’re looking forward to future!