10/25/2012 5:45:00 PM
Write a Letter to the Editor
Tweet
Print This
XPO Logistics said Thursday it has purchased Turbo Logistics, the freight brokerage division of logistics company OHL, for $50 million.
Founded in 1984, Turbo Logistics serves more than 600 customers out of Chicago, Dallas, Gainesville, Ga., and Reno, Nev. It had 170 employees and 12-month revenue of about $124 million as of September, XPO said.
Turbo provides expedited transportation and temperature-controlled trucking services.
XPO Logistics’ CEO Bradley Jacobs said in a statement that Turbo has “a strong carrier network and deep relationships in the retail, manufacturing and food and beverage sectors.�
Jacobs said in August that XPO is on track to reach $500 million in annual revenue by the end of the year, buoyed by acquisitions.
Turbo’s David Coker and Jeff Battle, with a combined 33 years of experience, will remain in leadership positions, XPO said, adding that will help the company’s largest location in Gainesville, and in Reno.
OHL, also known as Ozburn-Hessey Logistics, is ranked No. 17 on the Transport Topics Logistics 50 listing of North American logistics firms.
Follow Transport Topics on RSS Twitter Facebook
Tweet
Print This
© 2012, Transport Topics Publishing Group. All rights reserved.
RELATED ARTICLES