Overhaul, a software-based, supply-chain visibility, risk, compliance and insurance solution, has completed the acquisition of SensiGuard security services from Sensitech. With this addition, Overhaul says that it has a commanding share of the supply chain security market, cementing its position as a leader in protecting and optimizing global supply chains.

“This is a transformative acquisition for Overhaul. It expands our global footprint, adds hundreds of years of combined supply chain experience to our team and brings an impressive roster of international clients under our umbrella,” said Barry Conlon, Founder and CEO of Overhaul.

“With this acquisition, we’re not only the largest supply chain security provider, but the most comprehensive providing needed resilience with immediate corrective action. Our platform spans visibility, risk, compliance and insurance and is well positioned to help our customers safeguard their cargo and discover efficiencies and opportunities on a global scale.”

According to the company, the acquisition extends Overhaul’s global footprint, adding established offices in Brazil, Mexico and the Czech Republic. The company now has the same level of infrastructure across North America, Latin America and Europe. The deal also expands Overhaul’s book of business, adding some of the biggest names in tech, pharma and other logistics service providers.

With the addition of SensiGuard, Overhaul says it will offer a powerful visibility engine and 24/7 risk monitoring capabilities, providing shippers with a comprehensive, real-time solution for mitigating the risks associated with theft, damage, chain of custody and other cargo security threats no matter where the load may be throughout the globe.

“This acquisition is a win for our customers and our employees,” said Mark Serafine, Managing Director, SensiGuard. “Our customers and high value shippers will now have access to a more comprehensive set of services across cargo security. We’re seeing increased demand amidst serious integrity concerns and we now have the largest team of world-class supply chain security experts addressing these challenges. Together with Overhaul, we’ll advance and deliver the valuable technology to reduce loss ratios and streamline supply chains.”

“SensiGuard’s proven track record as a leading electronic freight security service for more than two decades speaks for itself,” said David Broe, Chief Operating Officer of Overhaul. “Cargo theft is a multi-billion dollar industry and that is just one of the many growing risks to cargo security and integrity that global shippers and logistics providers are grappling with on a daily basis. It is imperative that service providers not only keep pace, but stay ahead with best practices and prevention protocols to meet the challenges of maritime and road transport. With our combined expertise, we can better serve a global market faced with unprecedented risk.”