Third-party logistics provider FreightSaver has been acquired by Echo Global Logistics.
Echo Global Logistics Acquires FreightSaver to Boost Managed Transportation Capabilities
Echo Global Logistics, a Chicago-based logistics company with over 60 offices across North America, has announced the acquisition of 3PL peer FreightSaver. FreightSaver, founded in 2014 and headquartered in Huntington Beach, California, specializes in a comprehensive range of freight and logistics services.
FreightSaver's services include Full Truckload (FTL), Less-than-Truckload (LTL), Expedited, Specialized Freight, and Managed Transportation. The company operates a tech-enabled platform designed to deliver customer-centric services with agility, personalized support, and a focus on long-term client relationships. FreightSaver supports a notable managed transportation client base and is recognized for a responsive service model and a robust all-in-one logistics portal.
FreightSaver operates from multiple locations across the U.S., including Utah, Michigan, Ohio, Temecula, California, and Huntington Beach. This expansion broadens Echo's geographical reach. The company's tech platform specializes in truckload, less-than-truckload, expedited, and specialized freight shipments.
According to FreightSaver's CEO, Ryan Renne, the acquisition is a natural next step in FreightSaver's journey. Renne stated that the values shared by Echo, including hustle, transparency, responsiveness, and partnership, align closely with FreightSaver's business philosophy.
Echo's platform connects with over 35,000 customers and over 50,000 transportation providers. The acquisition is expected to strengthen Echo’s managed transportation capabilities and client base. Doug Waggoner, CEO of Echo Global Logistics, stated that FreightSaver accelerates their ability to deliver value through managed transportation.
Financial terms of the transaction between Echo Global Logistics and FreightSaver were not provided. The acquisition is expected to close in the second quarter of 2023, subject to customary closing conditions.
This article was written by Todd Maiden.
[1] FreightSaver's website: www.freightsaver.com [2] Echo Global Logistics' website: www.echo.com [3] Press release from Echo Global Logistics: www.echo.com/news/echoglobal-logistics-acquires-freightsaver [4] Article from FreightWaves: www.freightwaves.com/news/echo-global-logistics-acquires-freightsaver [5] Article from Transport Topics: www.transporttopics.com/news/echo-global-logistics-acquires-freightsaver-3pl-peer
Technology will enhance FreightSaver's tech-enabled platform, providing more agile and customer-centric services. The acquisition of FreightSaver by Echo Global Logistics aims to strengthen Echo's managed transportation capabilities, leveraging technology for improved efficiency.
