Trimac acquires Zengistics freight brokerage
Trimac Transportation is acquiring Zengistics, a non-asset-based freight brokerage that supports activities with the Turvo supply chain management platform. It’s Trimac’s third acquisition in three months, but also represents the fleet’s first major push into the asset-less transportation space.
(Photo: Trimac Transportation)
The deal’s financial terms were not disclosed. Zengistics will remain a standalone company and retain both its brand and corporate headquarters in Austin, Texas.
“This will add an accelerator to our top line growth and provide synergies to our base trucking operations,” said Trimac president and CEO Matt Faure, referring to the technology and capacity that comes with Zengistics. The fleet also refers to the deal as a “key M&A milestone for Trimac” as it branches beyond its Bulk Plus Logistics brokerage division and asset-based bulk and specialized transportation businesses. Zengistics was founded in 2014 and currently employs about 50 people who focus on dry van, reefer, and flatdeck freight across North America.
“We are excited to be a part of the Trimac team,” said Zengistics CEO Chris Winslow. “Their leadership position in the North American transportation industry coupled with their passion for excellence will serve our customers and employees well.”
Only weeks ago Trimac purchased Double Eagle Transportation, a California cement hauler with 96 tractors and 124 dry bulk pneumatic trailers.
It acquired Montreal Tank Wash in late April, adding to an existing network of maintenance and wash racks within National Tank Services.
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