GlobalTranz Acquires Utah’s Apex Logistics
Freight brokerage firm GlobalTranz Enterprises made its fourth acquisition of 2017, buying American Folk, Utah-based Apex Logistics Group for an undisclosed price.
Apex Logistics provides less-than-truckload, truckload, temperature-controlled and warehouse-management services. Apex clients include Anheuser Busch, Del Monte, Kroger and Sysco.
GlobalTranz this year purchased Milwaukee-based Global Freight Source, Minneapolis-based Logistics Planning Services and Richmond-based Worthington Logistics and reported that integration efforts are on course to be implemented by the end of the calendar year. It claims a customer base of 25,000 shippers.
GlobalTranz ranks No. 13 on Transport Topics list of top freight brokerage firms in North America with net revenues of $107 million.
GlobalTranz reported its third quarter revenues increased 42%, total shipments rose 30% and earnings grew 70% from the same period a year ago, but the privately held firm did not release specific numbers.