A rolling stone gathers no moss, and the freight broker and third party logistics provider (3PL) GlobalTranz Enterprises Inc. is out to prove the old saw true, announcing today that it has acquired fellow 3PL Cerasis Inc., capping off a year in which GlobalTranz itself was sold twice.
Terms of the deal were not disclosed, but the company said that buying Eagan, Minn.-based Cerasis marks GlobalTranz's 11th acquisition since January of 2017.
Phoenix, Ariz.-based GlobalTranz said the move allows it to enlarge its footprint in several ways, thanks to Cerasis' established business as a North American 3PL and a specialist in less-than-truckload (LTL) and multi-modal shipping. More specifically, GlobalTranz values Cerasis' extensive managed transportation client base, created as a result of its expertise in 3PL and 4PL services, the firm said.
Adding that client base to its own pool could fuel continued growth for GlobalTranz' managed transportation unit, which has doubled in size over the last 12 months through purely "organic" growth, the firm said.
"Cerasis has a strong history of providing its customers with solutions that help create competitive and operative advantages," GlobalTranz CEO Renee Krug said in a release. "Cerasis will help expand GlobalTranz's growing managed transportation, final mile, and reverse logistics capabilities."
GlobalTranz did not provide details about the impact of the move on Cerasis' existing customers. But in a statement, Cerasis President Steve Ludvigson said those clients would benefit from the acquisition by gaining access to GlobalTranz' services.
"Since the founding of our business in 1997, Cerasis has helped customers understand fragmented shipping data to manage costs and make logistics a strategic weapon," Ludvigson said. "Combining with GlobalTranz allows us to continue this history while providing our customers with increased service offerings and access to capacity."
The acquisition comes just nine months after GlobalTranz itself was purchased by Providence Equity Partners LLC from The Jordan Company L.P., a move which took place just eight months after Providence had sold GlobalTranz to Jordan.