Freight brokerage GlobalTranz Enterprises Inc. has acquired SynchOne LLC, the less-than-truckload third-party logistics solutions business of Synchrogistics.
Financial terms of the deal were not disclosed.
Greensboro, N.C.-based SynchOne has worked with GlobalTranz as a freight agent for more than seven years, SynchOne founder Bill Jackson said.
Based in Scottsdale, Ariz., GlobalTranz provides technology-enabled multimodal transportation and logistics solutions, specializing in LTL, full truckload, third-party logistics and expedited shipping services.
Thanks to acquisitions and organic growth, GlobalTranz saw earnings growth of 55 percent year-over-year in the second quarter of 2018, while revenues climbed 58 percent, placing it on track to generate more than $1 billion in revenues for the full year.
The SynchOne purchase followed five other GlobalTranz acquisitions since January 2017: AJR Transportation in January 2018, Apex Logistics Group in December 2017, Worthington Logistics in June 2017, Logistics Planning Services in May 2017 and Global Freight Source in January 2017.
GlobalTranz currently has a customer base of more than 25,000 shippers and a network of over 34,000 carriers.