GlobalTranz Enterprises, Inc., a leading technology and third-party logistics solutions company providing award-winning Transportation Management System (TMS) products to shippers, logistics service providers and carriers, today announced that it has acquired Circle 8 Logistics, a service-driven provider of third-party multimodal transportation and logistics services throughout North America. Circle 8 is GlobalTranz's 9th acquisition since January of 2017 and represents continued delivery of industry-leading organic growth augmented by strategic combinations.
"Since the founding of our business in 2001, Circle 8 has provided innovative solutions with honesty and integrity," said Mike Lewis, co-founder and co-CEO of Circle 8. "Combining with GlobalTranz allows us to continue this history while providing our customers with increased service offerings, access to capacity and advanced technology." Co-founder and co-CEO Ryan Phillips added, "we pride ourselves on employee retention and efficiency, which in turn enables us to better serve our customers and carriers. As part of GlobalTranz, we will be able to continue our service-driven mentality while concurrently providing an environment for our employees to grow."
With the acquisition of Circle 8, GlobalTranz continues to expand its presence in the Chicago area. With offices in Niles and Lombard, along with its office in downtown Chicago, GlobalTranz has access to and options for the area's rich logistics and technology talent.
"Circle 8 has a strong history of providing its customers with superior services and logistics solutions," said Renee Krug, chief executive officer of GlobalTranz. "Circle 8 has combined a focus on people, processes and technology to drive growth via unique solutions for its customers and strong carrier partnerships. The combination will further accelerate our growth and market leadership in the 3PL industry," added Krug.
Ranked the 10th largest freight brokerage in the US by Transport Topics and voted an Inbound Logistics Top 10 3PL for 2018, GlobalTranz is driving strong growth with 25,000+ customers through technology innovation, a network of 34,000+ carriers, transformative M&A, creative products and superior customer service delivered by the best people in the industry.
"GlobalTranz is clearly executing on its strategy of driving growth both organically and via complementary, accretive acquisitions," said Bob Farrell, executive chairman of GlobalTranz. Farrell added, "Our unique hybrid combination of the best independent freight agents in the industry with our strong direct channels is a clear differentiator. Circle 8 will further enhance our channels to market."
Mesirow Financial, Inc. served as the exclusive financial advisor to Circle 8 Logistics, Inc.
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