Third-party logistics (3PL) provider BlueGrace Logistics LLC announced plans yesterday to accelerate its hiring plans and double its office space footprint in the Chicago Board of Trade skyscraper building.
The expansion comes as BlueGrace continues an aggressive growth strategy fueled by a $255 million investment from private equity powerhouse Warburg Pincus LLC in 2016.
Riverview, Fla.-based BlueGrace says it is experiencing significant growth and greater demands for its tech-enabled 3PL services, and anticipates 70 percent year-over-year revenue growth in 2018.
To keep up with that growth, BlueGrace is boosting its downtown presence from 8,000 square feet to 15,000 square feet and will grow its Chicago workforce from 40 employees to 150 when the Board of Trade expansion is complete, the firm said. BlueGrace also has an office in northwest suburban Itasca, Ill., where 60 employees are based.
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