Freight broker FitzMark announced Monday that is has completed the acquisition of fellow Indianapolis-based 3PL Hometown Logistics.
Founded in 2018, Hometown Logistics has more than 100 employees working out of brokerage offices in Scottsdale, Arizona and Nashville, Tennessee, in addition to Indianapolis. The acquisition will help expand FitzMark’s existing dryvan and flatbed truckload offerings.
Financial terms of the transaction were not disclosed. The deal closed on Tuesday.
“We’re grateful to the Hometown team for trusting us as a home for their employees and customers,” said Scott Fitzgerald, FitzMark founder and CEO, in a news release. … “We are excited to provide them additional tools and resources to continue growing with their shipper and carrier partners.”
FitzMark provides brokerage services and a proprietary TMS to more than 3,000 shippers and 25,000 carriers. The company is backed by private equity firm Calera Capital.
The deal marks 10 acquisitions for FitzMark since opening in 2006. It is the company’s third acquisition this year. In April, it acquired temperature-controlled broker High Point Logistics and less-than-truckload broker Pentonix Freight.
“In just seven years, Hometown has achieved what once seemed impossible — rising to the top through some of the most challenging freight markets our industry has ever faced,” said Cole Ervin, founder of Hometown. … “I’m excited to watch all the great things Hometown and FitzMark will accomplish together.”
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