Logistics Industry News

PLS Logistics Acquires The AGL Group, Keeping CEO Steve Zambo in Place

The Weymouth, Massachusetts forwarder becomes a wholly owned PLS subsidiary and brings ocean freight, drayage and customs brokerage to the Pittsburgh-area 3PL. Terms were not disclosed.

Armstrong Transport Group Receives Strategic Investment from Quad-C

Carousel Capital, the Charlotte freight brokerage's first institutional backer, exits after seven years, and Armstrong's management keeps significant ownership. Terms were not disclosed.

C.H. Robinson Buys DeSpir Logistics for About $75 Million in Cash

The Minnesota freight broker paid from cash on hand for a 2014-founded Lisle, Illinois, specialist in high-value, high-risk and temperature-controlled freight. The deal closed the day it was announced.

Open Road Ventures Buys Double-Stack Logistics in Its First Acquisition

The Indiana private equity firm, which buys small and mid-sized freight brokers, adds a Dallas intermodal company that owns more than 150 rail containers. Terms were not disclosed.

Beauty Investor Kiuda Group Acquires Majority Stake in CGETC

Kiuda founder Ky Ma becomes CEO of the City of Industry, California, logistics provider in the firm's first acquisition, and CGETC founder David Byun stays on as president. Terms were not disclosed.