Transplace, Transportation management firm has acquired M33 Integrated, a third-party logistics provider. Financial terms of the transactions has not been disclosed.
Based in Greenville, M33 Integrated offers a strategic combination of technology tools, intelligence and consultative services to help the shippers make the optimum use of logistics and reduce transportation costs to achieve business goals. With its blend of proprietary technology and supply chain expertise, the company offers logistics service to wide range of customers.
Further to the acquisition, M33 Integrated’s Greensboro, NC operation centers and Greenville’s technology center would become Transplace Southeastern Center of Excellence and would function as Transplace’s Transportation Management business. The deal would facilitate to add a portfolio of 60 to 70 clients to Transplace’s technology platform and would M33 Intergrated’s 165 employees would join Transplace.
Scott Riddle, senior partner and co-founder of M33 Integrated said, “We are thrilled to join Transplace, which positions us to better serve our current customers and allows us to take advantage of Transplace’s experience and scale, along with its award-winning technology and Lean Six Sigma-based processes. We look to continue to grow Transplace across geographical areas and industry verticals and provide superior service and value to existing and new customers.”
“M33 Integrated brings a strong management team, robust technology solutions and an excellent customer base, particularly within the growing flexible packaging industry, that are complementary to Transplace’s capabilities,” said Transplace CEO Tom Sanderson. “The addition of M33 Integrated complements Transplace’s current geographical footprint and deepens our middle market penetration, as well as expands on the company’s vision to deliver outstanding value to all North American shippers.”
Being a pioneer in transportation management services in USA, Transplace generates a revenue over $1.6 billion. Run by Greenbriar Equity Group LLC, Transplace helps its customers manage a wide range of logistics and transportation services by offering them through a proprietary web-based TMS platform. It offers services like transportations outsourcing, carrier contracting and negotiation, and intermodal and freight brokerage services to a range of customers from chemical companies, retailers and manufacturers.
Acquisition seems to be the latest business expansion strategy for logistics company in the recent years including the announcement few days ago that XPO Logistics Inc would buy Con-Way for $3 billion.