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Indianapolis-based 3PL FitzMark inks 7th acquisition

Addition of Georgia-based broker bolsters reefer capabilities

FitzMark expands its brokerage portfolio in its latest deal. (Photo: Jim Allen/FreightWaves)

Third-party logistics provider FitzMark said Wednesday it has acquired truck broker GTO 2000.

Gainesville, Georgia-based GTO 2000 focuses primarily on temperature-controlled truckload transportation. The nearly 50-year-old company boasts a network of more than 14,000 carriers, which also provide dry van, flatbed, expedited, intermodal and less-than-truckload transportation.

Financial terms of the transaction were not provided.

“Adding to our knowledge and experience in the refrigerated vertical, GTO 2000 fits well with FitzMark’s existing platform,” said Scott Fitzgerald, FitzMark founder and CEO. “We are excited to have GTO become a part of our team and provide them with the toolsets, capabilities, and resources to meet what are rapidly growing shipper and carrier needs.”

This transaction marked the seventh acquisition over the past four years for FitzMark, which has been rolling up 3PLs with the help of private equity firm Calera Capital.

“Working with FitzMark enables our team to continue to exceed expectations and deliver for our shippers and carriers for many years to come,” said GTO 2000 Chairman Gregg Gordon.

Founded in 2006, Indianapolis-based FitzMark is a 3PL and TMS provider to shippers and carriers nationwide. The company focuses on brokerage and logistics for the TL, flatbed, refrigerated and LTL markets.

Atlanta-based M&A advisory firm JGS Resources advised GTO 2000 in the transaction.

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Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.