Freight Brokers International, known as the The FBI Group, has acquired Lucas Freight Management, a fellow Canadian firm that offers cross-border transportation management.
The FBI Group, an Ontario-based freight brokerage, announced the deal on June 4. Lucas Freight is a non-asset freight management firm that focuses on the manufacturing sector and emphasizes cost-saving fright solutions.
"This agreement strengthens FBI's ability to provide customers with the experience, creativity and personal approach they expect from the people managing their freight," Manny Speranza, FBI Group senior partner, said in a statement. "Lucas Freight Management built its business from the grassroots and we're excited for their customers to benefit from greater economies of scale and specialized services while maintaining the relationships they've developed over the years."
Goderich, Ontario-based Lucas Freight will relocate to The FBI Group's headquarters near Toronto.
"FBI understands our business and shares our commitment to client service. Our knowledge, in combination with FBI's extensive capabilities, will allow us to move freight more efficiently and cost-effectively regardless of mode, destination or size of shipment," Ted Lucas, founder and president of Lucas, said in a statement. Lucas Freight marks FBI's fourth acquisition of a non-asset-based logistics firm. Most recently, FBI acquired Consolidated Carriers, an Ontario-based freight broker in 2017.
Image sourced from Pixabay
See more from Benzinga
- Navistar Moving Higher On Increased Outlook
- On The Road Again – Three Ways Data Is Enabling Smarter Transportation Management
- Today's Pickup: Under-21 Military Members Can Now Apply To Drive Commercial Trucks
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.