Subscribe to our free, weekly email newsletter!


Echo Global Logistics acquires Comcar Logistics

By Jeff Berman, Group News Editor
March 20, 2014

Late last month, Echo Global Logistics, a non-asset based freight brokerage company and a provider of technology-enabled transportation and supply chain management services, acquired Jacksonville, Fla.-based Comcar Logistics, a non-asset based truckload brokerage.

Financial terms of the deal were not made available.

Echo officials said that Comcar, which was established in 2011, offers truckload brokerage to a portfolio of clients with a strong carrier network, mainly in the Southeast and Rocky Mountain regions and will be led by Lane Turner, whom will serve as regional vice president. Over the previous 12 months, Echo said that Comcar had roughly $15 million in gross revenue.

“We are pleased to join the Echo organization,” said Turner in a statement. “The Echo web-based technology platform, national truckload brokerage capabilities, multi-modal service offering and commitment to client service will expand our ability to deliver enhanced transportation solutions to shippers.”

David Menzel, Echo’s Chief Operating Officer, said that as part of Echo’s continuing multi-point growth strategy, it is always looking for interesting companies that fit well in its culture and work with its client-focused team.

“Comcar Logistics fits perfectly within our acquisition strategy given its emphasis on Truckload Brokerage, its customer base, experienced staff, geographic presence in the Southeast and Rocky Mountain regions, as well as its carrier network,” he said.

And when asked how bringing Comcar into the fold will benefit Echo’s customers, he explained that that acquisition itself will be transparent to them, however, Menzel explained they will see the benefits of enhanced and expanded carrier capacity.

“Comcar Logistics customers will continue to be serviced by the great people they have worked with in the past but will have access to the additional resources, capacity, and technology that comes with Echo.

Menzel declined to disclose a specific figure for the number of truckload carriers Comcar has relationships with but said that Echo was drawn to Comcar, given their relationships with large, small and regional carriers across the country, adding that Comcar’s focus on niche regions of the southeast and rocky mountain will also help grow its national footprint.

About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Following the lead of its Congressional Colleagues in the House of Representatives, the United States Senate yesterday approved a measure geared to keep federal surface transportation funding intact through the end of December with a nearly $11 billion stopgap fix.

XPO Logistics announced second quarter earnings and the acquisition of two companies, New Breed Logistics, a non asset-based 3PL focusing in contract logistics services, for roughly $615 million, and Atlantic Central Logistics, a 3PL provider of last-mile logistics services, for roughly $36.5 million.

The report, entitled “Outlook for the Domestic Transport and Logistics Market in 2H14 and Beyond,” takes the view that strong freight levels in the second quarter have left trucking companies in a good position: one in which they need to come up with new plans to handle rising demand. But even with that positive momentum afloat, the report observes that there are some familiar challenges intact, such as a lack of qualified drivers and the regulatory drag from the new hours-of-service rules that took effect in July 2013.

Flags of Convenience are a fact of life in the commercial maritime trade, but several European political action groups are worried that they will pose a threat to the Continent’s air cargo industry.

For May, which is the most recent month for which data is available, the SCI is -7.5, following April’s -7.5. FTR said this reading represents a still-tight capacity environment, as utilization rates hover between 98 percent and 99 percent.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA