Third-party logistics providers Coyote Logistics and Access America Transport announced a merger to create one of the nation’s largest freight brokers with annual gross revenue exceeding $2 billion as consolidation continues in that industry.
Chicago-based Coyote and Access America, in Chattanooga, Tenn., did not disclose terms of the agreement. They did not say how much revenue each company would bring to the combined business that will be known as Coyote Logistics.
Combined, the companies will have 1,750 employees at 17 locations and almost 40,000 carriers under contract. Coyote’s last acquisition was in 2008, a spokeswoman said.
“We are incredibly excited to welcome the Access America team to the pack,” Coyote CEO Jeff Silver said. “This merger reinforces our relentless commitment to shippers and carriers across North America. We now have more resources and better capacity to serve them.”
Silver will remain as CEO of the company of which he is a co-founder. AAT President Chad Eichelberger is taking the newly created position of president of brokerage.
AAT, which was founded in 2002, offers truckload, less-than-truckload, intermodal, flatbed and specialized freight services. Coyote also offers those services, as well as transportation management.
The Transport Topics listing of the Top 50 logistics firms lists Coyote as the ninth-largest freight broker and Access America at No. 14.
The move positions Coyote at about the same size as XPO Logistics, trailing only C.H. Robinson Worldwide in the brokerage market.