NFI Buys Transfix’s Freight Brokerage Operation
[Stay on top of transportation news: Get TTNews in your inbox.]
NFI acquired Transfix’s digital freight brokerage operation for an undisclosed sum, the carrier said June 5.
NFI’s existing business lines include dedicated transportation, warehousing and distribution, e-commerce fulfillment, brokerage, transportation management, port drayage, intermodal, global logistics and industrial real estate. The company owns and operates more than 70 million square feet of warehouse space alongside a dedicated fleet of 4,900 tractors and 13,700 trailers.
“We’re excited to welcome the Transfix brokerage team to NFI,” said NFI CEO Sid Brown. “Their experienced team provides an exceptional solution that aligns well with our strategy. We look forward to partnering with their customers and enhancing the experience for our current portfolio.”
Brown added, “As one of the largest and most diversified [third-party logistics companies] in the marketplace, NFI can leverage its scale and offer its existing service offerings of dedicated transportation, warehousing and distribution, and port services to the Transfix customer base.”
An NFI spokeswoman noted June 6 the deal includes a team of nearly 100 brokerage professionals.
NFI and @transfixIO are proud to announce that NFI has acquired Transfix’s freight brokerage operations. Transfix is pivoting its core business to become a SaaS and data solutions provider, with NFI as its first third-party customer. Read more: https://t.co/i3DG7cS22B pic.twitter.com/4BMU9kp1LE — NFIindustries (@NFIindustries) June 5, 2024
Following the deal, Transfix plans to pivot its core business to providing software and data services for brokers, shippers and carriers, with NFI set to be the first third-party customer to utilize Transfix’s transportation management software.
“We believe the Transfix TMS will be a game changer for us,” said David Broering, NFI president of integrated logistics solutions. “This acquisition and ongoing partnership is a great opportunity to accelerate our digital approach while combining our operational strength with their technical expertise to create more value for our customers and carriers.”
By divesting its freight brokerage operation, Transfix said it will now focus entirely on taking its technology to market as a software-as-a-service and data services provider and expects to work with brokers, shippers and carriers.
“As someone who grew up in the brokerage business, I am thrilled about the next chapter at Transfix,” said Drew McElroy, co-founder and chairman of the board at Transfix. “Opening up our decade of technological advancements to brokers industrywide is set to create substantial value for brokers everywhere. I am also deeply appreciative of NFI’s commitment to advancing the industry by incorporating our technology and for welcoming many of our talented teammates.”
Camden, N.J.-based NFI ranks No. 16 on the Transport Topics Top 100 list of the largest for-hire companies in North America. It also ranks No. 14 on the truckload carriers sector list, No. 7 among intermodal/drayage haulers and No. 11 for refrigerated carriers. It ranks No. 23 on the TT Top 100 logistics companies list.
Want more news? Listen to today's daily briefing below or go here for more info:
