Transplace Acquires Logistics Firm LMS
Logistics service provider Transplace Inc. said it has acquired Logistics Management Solutions, a non-asset-based logistics firm in St. Louis, with strong ties to the chemical and industrial manufacturing industry sectors.
Terms were not disclosed.
Transplace, based in Dallas, is owned by the investment firm Greenbriar Equity Group and generates annual gross revenue of $1.4 billion.
LMS provides a variety of freight management services, including network design, carrier procurement and freight brokerage. Established in 1996, LMS reported gross revenue of $126.2 million in 2010.
Transplace CEO Tom Sanderson said the acquisition of LMS allows the company to offer more services to existing customers and expand its presence in key verticals, such as the chemical industry.
Dennis Schoemehl, CEO of LMS, will stay on as an advisor to Sanderson, while Greg Umstead, president and chief operating officer, will continue to operate the business for Transplace, the company said.
