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ShipX closes e-commerce transportation loop through acquisition

E-comm startup now has end-to-end solution with addition of Princeton Logistics and TriStar Carriers

ShipX acquires Princeton Logistics (Photo: Jim Allen/FreightWaves)

E-commerce transportation provider ShipX announced it has acquired Princeton Logistics and its subsidiary, TriStar Carriers. The deal adds first- and middle-mile transportation services to ShipX’s mostly last-mile parcel offering.

Princeton, New Jersey-based Princeton Logistics offers a full suite of contract truckload brokerage services along the East Coast through a network of more than 1,100 carriers. The company also brokers power-only and box truck delivery services.

Jacksonville, Florida-based TriStar is a middle-mile carrier for the retail and e-commerce sectors, utilizing a fleet of sprinter vans, box trucks and drop trailers. The company also provides inbound air cargo services, airport-to-airport transfer and expedited shipment from and to the East and West coasts.

“We’re so happy to have the amazing employees of Princeton Logistics and TriStar Carriers join the ShipX family,” Solomon Zakinov, ShipX’s CEO and founder, stated in a press release. “This acquisition ensures that we’ll continue to meet the ever-evolving needs of today’s e-commerce shippers — especially in the major markets — while still offering affordable, reliable logistics services.”

All of the companies will operate under the ShipX name. Jim Neebling, the former Princeton Logistics president, was named chief logistics officer at ShipX.

Financial terms of the transaction were not disclosed.

“We’re thrilled to join forces with ShipX and even more excited to be able to offer our clients a more complete, turnkey shipping solution,” Neebling said. “Shippers have wanted a new end-to-end shipping solution and we’re happy to be offering one starting today.”

New York-based ShipX was launched at the beginning of 2021 “in response to the ever-growing, ever-changing shipping needs of retailers, e-commerce companies and 3PLs.” Its customer list also includes large carriers and private fleets.

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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.