Daniel P. Bearth
Investment Firm Regains Ownership of GlobalTranz
GlobalTranz agent by GlobalTranz
GlobalTranz Enterprises has struck a deal with Providence Equity Partners to acquire the business from The Jordan Co. in a move designed to provide additional financial support for the company’s aggressive growth strategy.
April 4, 2019Industry Objects to Plan to Privatize Military Moves
TT file photo
A plan to turn over responsibility for household-goods moves for military personnel to a single third-party transportation manager is running into opposition from industry leaders who say the idea is flawed and won’t rectify the problems U.S. Transportation Command said it wants to address.
April 3, 2019Express Delivery and Logistics Association Merges With CLDA
The Express Delivery and Logistics Association, a trade group that represents air cargo and package delivery firms, has agreed to merge with the Customized Logistics & Delivery Association, according to a joint statement released Jan. 28.
January 28, 2019Gryphon Investors Buys Majority Stake in Nolan Transportation Group
Private equity firm Gryphon Investors added to its logistics portfolio with the purchase of a majority stake in Atlanta-based freight broker Nolan Transportation Group for an undisclosed amount.
January 7, 2019Andrew, Michael Leto Secure Funding for New Online Freight Marketplace
Andrew (left) and Michael Leto are launching a new software platform called Emerge. (Emerge)
Serial entrepreneurs Andrew and Michael Leto, who started GlobalTranz Enterprises and 10-4 Systems, both of which were sold earlier this year, are launching a new enterprise. It is a software platform called Emerge that allows shippers and carriers to book loads, track shipments and source new capacity in what is being described as a private freight marketplace.
November 19, 2018Expeditors International Posts Record Profits, Net Revenue in 3Q
Expeditors International
Expeditors International of Washington Inc. achieved record profits and net revenue in the third quarter as the Seattle-based air and ocean freight forwarder benefited from lower taxes and kept ahead of rising transportation costs in a tight-capacity market.
November 6, 2018Mullen Group’s Trucking Segment Bolsters 3Q Results
Mullen Trucking Corp.
Mullen Group reported strong revenue growth in its Canadian trucking business and expanded its oil field transportation services with a couple of key acquisitions, but the company’s profits dipped in the third quarter of 2018 as it dealt with rising costs and a decline in the value of the Canadian dollar.
October 25, 2018Landstar System Posts Another Record Quarter
Tom Biery/Trans Pixs
Landstar System reported a big bump in business, posting record earnings and revenue in the third quarter.
October 24, 2018Freight-Related Startups, Tech Firms Continue to Attract Investment
Ryan Rogers (left) and Will Brewer talk in the body shop at Covenant Transport. (Covenant Transport Services)
Interest in freight-related startups and technology continues to grow, as evidenced by several recent investment deals as well as a first-of-its-kind Founders Camp whereby representatives from 20 startup firms met with trucking executives and shippers in Chattanooga, Tenn., to exchange ideas for new products and services.
October 17, 2018FreightRover Gets Backing to Launch Freight Payment Service
Desktop rendering of the FreightRover platform. (FreightRover)
FreightRover, a company launched a year ago by a former top executive at Celadon Group to provide technology to automate vendor payments, has secured a financing facility of up to $500 million from Crayhill Capital Management and other investors to support a new business that will offer trade finance and freight factoring services.
October 17, 2018