Tuesday, September 29, 2015

Acquisition: Broker buys equipment-haul portal

The Shipmymachinery.com site purports to be “a privately held online web portal providing transportation lead generation services to the transportation industry throughout North America relating to capital equipment and machinery among other specialized equipment commodities,” the company says.

The domain is now the property of third-party logistics firm and brokerage Absolute Worldwide Logistics, that company said in a press release.

Related

Con-way acquired in $3 billion deal, will be rebranded as XPO Logistics

The acquisition will make XPO the second largest less-than-truckload carrier in North America, the company says. Con-way Freight, Menlo Logistics, Con-way Truckload and Con-way Multimodal ...

Said AWL CEO John hart, “We will integrate the lead generation aspect of the web portal with our operations team, who has more than 30 years of specialized equipment fulfillment. This acquisition brings synergies to our truckload operations, and more importantly provides 100 percent of a looped quoting and fulfillment process for our current customers and prospective customers.”

Hart also characterized the acquisition (terms largely undisclosed) as an attempt to “gain increased market share in the specialized transportation sector.”

The new portion of the AWL team would be based out of the Baltimore, Md.-headquartered company’s Toledo, Ohio, office.

UPS buying freight broker Coyote Logistics in $1.8 billion deal

Founded in 2006, full-truckload brokerage Coyote Logistics reported annual revenue of $2.1 billion in 2014. Closing of the deal to buy the company, UPS says, ...


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