Trimac Transportation recently acquired the business of Zengistics, a technology-based freight brokerage company that provides non-asset-based transportation solutions.
Zengistics operates on the Turvo Platform, a collaboration-based logistics platform that connects carriers, shippers, and logistics providers.
This is Trimac’s third acquisition in three months, and first major endeavor into the asset-less transportation space, the company said. The acquisition advances Trimac’s efforts to grow its business through M&A activities as a complement to its traditional internal and organic growth opportunities, helping Trimac realize its long-term goals.
“This is an exciting benchmark in our Trimac history, and we are delighted to partner with a dynamic team at Zengistics,” said Matt Faure, president and CEO of Trimac.
“We welcome the entire team to the Trimac family. 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.”
Zengistics is a brokerage company that utilizes a “technology-first” approach to transportation and brokering. Founded in 2014, the approximately 50-person Zengistics team operates as a third-party logistics company specializing in connecting shippers with carriers that provide capacity to transport dry van, reefer, and flatbed-based freight across North America.
“We are excited to be a part of the Trimac team,” said Chris Winslow, CEO of Zengistics, “Their leadership position in the North American transportation industry, coupled with their passion for excellence, will serve our customers and employees well.”
Zengistics will remain a stand-alone company retaining its brand name and corporate headquarters based in Austin, Trimac said. This is a key M&A milestone for Trimac, as the company branches out beyond its Bulk Plus Logistics brokerage division, and asset-based bulk and specialized transportation businesses.