Scott Logistics Acquires Apex Freight
Freight broker Scott Logistics Corp. has acquired Apex Freight Services to expand the buyer’s market presence, a move that’s the third transportation industry acquisition announced this week.
Rome, Georgia-based Scott didn’t announce terms for the purchase of Apex, a brokerage in Lafayette, Louisiana. With the additional $20 million in gross revenue, Scott now expects to approach $150 million in annual revenue on that basis this year.
On July 25, Omni Holdings announced the purchase of Tennant Truck Line’s flatbed assets from Henderson Trucking, and Wind Point Partners said it bought St. George Logistics from three other private equity investors.
"The acquisition of Apex is part of our overall strategic plan to grow," explained Scott Logistics, which ranks No. 45 on the Transport Topics list of the largest freight brokerage firms.
President Jay Matthews, who told Transport Topics Apex was the company’s first acquisition, said, "They already have a great customer base which is now combined with our resources. This acquisition is a win for our business, but also our customers."
Scott, which now has nine branches in the Eastern U.S. and Midwest intends to grow further through a combination of acquisitions and new office startups, Matthews said. Its gross revenue topped $100 million last year.
Tracy Pellerin, the previous owner of the Apex, will stay on as branch manager in Lafayette, along with sales and other staff of approximately 20 people, Matthews told TT.
