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GlobalTranz Acquires AFN Logistics

14-Sep-2018
GlobalTranz Acquires AFN Logistics
GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today announced that it has signed a definitive agreement to acquire AFN Logistics, an award-winning leader in freight brokerage, 3PL logistics, and transportation management services. The acquisition further solidifies GlobalTranz’s position as a top freight brokerage firm and significantly increases its market share in 3PL services. The transaction is expected to close within 45 days.

“I am excited to write the next chapter in AFN’s evolution with GlobalTranz,” said Owen Schnaper, chief executive officer of AFN. “Since Ryan Daube founded the business 15 years ago, AFN has focused on driving high value for its customers through unparalleled service with trusted freight carriers providing high-quality, consistent capacity. By combining with GlobalTranz, AFN can continue this history on a bigger platform with differentiated technology. I know this combination will be attractive and beneficial to our clients and partners alike.”

“AFN Logistics is one of the fastest growing and most exciting companies in the 3PL space,” said Bob Farrell, chairman and chief executive officer of GlobalTranz. “AFN has leveraged people, processes and technology to create unique solutions for its customers and develop strong carrier partnerships. Combining GlobalTranz’s and AFN’s network and technology along with the best talent in the industry creates a company that will exceed $1.5 billion in revenue and will further accelerate our growth and market leadership in the 3PL industry.”

GlobalTranz recently announced The Jordan Company, L.P. (TJC) as its new equity partner. “We are pleased to support the acquisition of AFN by GlobalTranz,” said Brian Higgins, senior partner, TJC. Higgins added, “GlobalTranz is executing on its strategy to drive market leadership by strong organic and acquired growth. AFN is a strong fit with this strategy.”

“Our unique hybrid combination of the best independent freight agents in the industry with our strong direct channels is a clear differentiator. AFN will further enhance our channels to market,” added Farrell.

Ranked the 10th largest freight brokerage in the US by Transport Topics and voted an Inbound Logistics Top 10 3PL for 2018, GlobalTranz is driving strong growth with 25,000+ customers through technology innovation, a network of 34,000+ carriers, transformative M&A, creative products and superior customer service delivered by the best people in the industry.