The Phoenix, Ariz.-based third-party logistics provider and truck broker has purchased Global Freight Source for an undisclosed price in an effort to continue to grow its share of the truckload and less-than-truckload brokerage market.
GlobalTranz Enterprises, Inc. has purchased Milwaukee, Wis.-based freight brokerage and third-party logistics provider Global Freight Source, according to a joint statement from the companies.
Financial terms of the deal were not disclosed.
Headquartered in Phoenix, Ariz., GlobalTranz describes itself as a “technology-driven freight management solution provider” that specializes in less-than-truckload (LTL), full truckload (TL), third-party logistics and expedited shipping services.
Officials say the acquisition of Global Freight Source will help the company to continue to grow its share of the truckload and less-than-truckload brokerage market, as well as allow it to learn from shared best practices.
“Global Freight Source is a great addition for GlobalTranz and we are excited to have the team on board,” GlobalTranz chief executive officer Bob Farrell said of the purchase. “Jim [Weatherly] and his team have built a world-class freight operation and proven themselves to be a top revenue producer year after year.
“Their breadth and depth of freight management expertise, experience successfully applying the GlobalTranz technology platform to service enterprise customers, and ability to share best practice knowledge with our other freight agents will be big assets to GlobalTranz as we continue to grow the company.”
“We have worked with GlobalTranz for years, and its freight brokerage technology has helped us grow our market share tremendously,” added Jim Weatherly, chief executive officer of Global Freight Source. “We are excited to become part of GlobalTranz, and I look forward to contributing to company growth and helping other GlobalTranz agents replicate our success.”
GlobalTranz acquires fellow freight broker
