Third-party logistics provider Ascent announced Tuesday it has acquired a majority stake in Central Minnesota Logistics (CML), a full-service brokerage focused on transportation solutions for overdimensional and heavy-cargo freight.
St. Cloud, Minnesota-based CML is now part of the Ascent Specialized business segment, which focuses on the transportation of oversized, heavy-haul and super loads across North America.
“CML supports our strategy of expanding service offerings to new customers across new markets,” Annette Luyten, Ascent’s senior vice president of domestic brokerage, said in a statement. “We will continue to acquire freight brokerage businesses where there is a strong fit with the Ascent platform.”
Ascent Specialized has customers in agriculture, mining, construction, wind, solar, oil and gas, manufacturing, and construction cranes. CML brings more than two decades of expertise in routing, compliance and coordinating flatbed, step deck, rolling gooseneck, multiaxle and stretch equipment to Ascent Specialized, according to a release.
Dave Demuth, owner of the former CML, will serve as president of the Ascent Specialized segment.
“As we grow the Ascent platform, we continue to set ourselves apart in the logistics industry with top-tier customer service and the ability to solve any logistics challenges,” Demuth said in a statement.
Belleville, Michigan-based Ascent has more than 950 employees across 15 states. Ascent offers truckload, less-than-truckload, global forwarding, air charter, specialized and expedited solutions. The company moves about 250,000 shipments annually and had over $1.5 billion in revenue last year.
Watch: FreightWaves’ carrier update for April 4.
Click for more FreightWaves articles by Noi Mahoney.
More articles by Noi Mahoney
BNSF planning massive intermodal, logistics hub near Phoenix
Quincus eyes growing Latin American e-commerce markets
Biden earmarks $236M to complete Texas ship channel projects
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now