Freight broker GlobalTranz Enterprises Inc. acquired Logistics Planning Services, also a freight brokerage, in a move that significantly increases its market share in third-party logistics services.
Terms were not disclosed.
“LPS will enable GlobalTranz to immediately increase its focus and market share in managed transportation, which is directly in line with our vision to further our leadership in the 3PL industry,” GlobalTranz Chairman and CEO Bob Farrell said in a statement.
Also, the acquisition will expand the types of freight GlobalTranz is able to move, adding large-scale and specialty freight management to its roster of services, the Scottsdale, Ariz.-based company said.
LPS has been in business for 30 years, according to the Minneapolis-based firm.
“As a company that has always focused on customer success and long-term partnerships, we are extremely pleased to be joining a market leader like GlobalTranz,” said Kirsten Castillo Hall, CEO of LPS.