E-commerce delivery startup ShipX acquires east coast trucking fleet
One-year-old firm buys Princeton Logistics Group and its TriStar Carriers subsidiary to expand from final-mile parcel delivery into first- and middle-mile service.
The e-commerce delivery service startup ShipX has acquired Princeton Logistics Group and its subsidiary, TriStar Carriers, in a move to expand its transportation portfolio beyond final-mile parcel delivery, the one-year-old firm said Thursday.
New York-based ShipX said the move will let it arrange first- and middle-mile transportation services to e-commerce customers needing specialized trucking options, as well as help strengthen its door-to-door parcel delivery services across North America.
Terms of the deal were not disclosed, but the company said that the two acquired firms have already been renamed ShipX, but will continue to serve their existing carrier, retailer, and private fleet customers, according to Solomon Zakinov, ShipX’s CEO and founder.
Princeton Logistics says its program covers the entire east coast and gulf coast, supported by offices in Princeton, New Jersey, and Jacksonville, Florida. Using equipment including 26-foot lift-gate trucks, day cabs, and long-distance sleeper units, it serves customers from big-box retailers to e-commerce shippers, major carriers, and private fleets.
TriStar Carriers focuses on the e-commerce transportation segment through middle-mile trucking and air cargo services. Its programs include inbound product, shipment injection, and outbound transportation to meet national and regional final mile providers, the company says.
“We’re thrilled to join forces with ShipX and even more excited to be able to offer our clients a more complete, turnkey shipping solution,” Jim Neebling, former President of Princeton Logistics, and now Chief Logistics Officer of ShipX, said in a release. “Shippers have wanted a new end-to-end shipping solution and we’re happy to be offering one starting today.”
The ShipX company name is a different venture than a startup with the same name that was founded in 2015 as an online freight exchange and later rebranded as FreightorGator. That firm was eventually merged back into its parent company, MyFreightWorld Technologies Inc.