LMS buys McCannÆs Piggyback Consolidation
Logistics Management Solutions, a non-asset-based third-party logistics provider, has acquired McCann's Piggyback Consolidation, an intermodal marketing company in Fenton, Mo. Financial details were not disclosed.
Through the acquisition, St. Louis-based LMS will add intermodal services to its offerings and create a new subsidiary, Freight Management Solutions. FMS will specialize in intermodal and freight brokerage services while parent company LMS will focus on supply chain management.
'The transportation industry moves and changes at a rapid pace,' said Dennis Schoemehl, president and chief executive officer of LMS. 'As government regulations evolve, fuel prices fluctuate and the economy improves, companies need to expand and explore their modal options to stay competitive with respect to service and cost.'
FMS will have access to all Class 1 railroads.
The new LMS subsidiary will assume McCann's headquarters in Fenton, where staff from McCann's and LMS will work together. McCann's co-founder, Bill McCann, will take on a consultative role during the transition, the company said.
