Echo Global Logistics acquires Fastmore Logistics

Chicago-based third-party logistics service provider (3PL) Echo Global Logistics has acquired Fastmore Logistics, also based in the Chicago area. The terms of the deal were not disclosed. Fastmore specializes in selling domestic, non-asset based transportation services to international carriers, expanding Echo’s transportation and supply chain management service offering. Fastmore’s domestic operations are consistent with Echo’s business portfolio, but the acquisition provides a “unique entry point” into a network of accelerated brokerage for the international trucking market, which utilizes multiple equipment types including vans, all-trucks and full truckloads, the companies said said. “We are pleased to continue investing in industry growth opportunities…” Echo Chief Executive Officer Doug Wagoner said in a press release. “This transaction allows us to expand into a new target market and build on the success of Fastmore.” Company President and Chief Operating Officer Dave Menzel added, “Fastmore’s addition of domestic international carrier transportation to our customer base is a natural expansion of our business . We are delighted to invest in her extensive knowledge of the international trucking business and look forward to working with Ray Sciuckas [Fastmore’s founder and CEO] and his team.”

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