XPO Logistics said Thursday it has purchased Turbo Logistics, the freight brokerage division of logistics company OHL, for $50 million.
Founded in 1984, Turbo Logistics serves more than 600 customers out of Chicago, Dallas, Gainesville, Ga., and Reno, Nev. It had 170 employees and 12-month revenue of about $124 million as of September, XPO said.
Turbo provides expedited transportation and temperature-controlled trucking services.
XPO Logistics’ CEO Bradley Jacobs said in a statement that Turbo has “a strong carrier network and deep relationships in the retail, manufacturing and food and beverage sectors.”
Jacobs said in August that XPO is on track to reach $500 million in annual revenue by the end of the year, buoyed by acquisitions.
Turbo’s David Coker and Jeff Battle, with a combined 33 years of experience, will remain in leadership positions, XPO said, adding that will help the company’s largest location in Gainesville, and in Reno.