Canadian bulk carrier Trimac Transportation announced Wednesday it has acquired technology-driven freight brokerage Zengistics Inc. Terms of the deal were not disclosed.
“This is an exciting benchmark in our Trimac history and we are delighted to partner with such a dynamic team at Zengistics,” said President and CEO Matt Faure in the release.
With 50 employees, Austin, Texas-headquartered Zengistics will continue as a stand-alone company.
The acquisition is different from the bulk carrier’s recent purchases of trucking companies and enables Trimac to enter the digital brokerage space.
Zengistics’ operations are backed by the digital logistics application Turvo, which will provide Trimac customers with better visibility and actionable data points.
“With the additional capabilities of Zengistics’ technologies and capacity, this will add an accelerator to our top-line growth and provide synergies to our base trucking operations. We are poised to realize substantially stronger growth by leveraging our partnership with the Zengistics team in the non-asset-based segment,” said Faure.
Zengistics CEO Chris Winslow said Trimac’s “leadership position in the North American transportation industry coupled with their passion for excellence will serve our customers and employees well.”
The Zengistics deal is Trimac’s third acquisition this year, following the purchase of two trucking companies, Gibson Energy and Double Eagle Transportation, growing its company to include more than 3,400 employees.
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“This year we launched a new five-year strategic plan that consists of using innovation to disrupt our industry in order to make Trimac a leader in the bulk trucking space,” said a company representative in a statement to FreightWaves.