GlobalTranz acquires AFN Logistics

The acquisition significantly increases GlobalTranz’s market share in 3PL services. The transaction is expected to close within 45 days.

“I am excited to write the next chapter in AFN’s evolution with GlobalTranz,” said Owen Schnaper, chief executive officer of AFN.

“Since Ryan Daube founded the business 15 years ago, AFN has focused on driving high value for its customers. By combining with GlobalTranz, AFN can continue this history on a bigger platform with differentiated technology. I know this combination will be attractive and beneficial to our clients and partners alike.”

“AFN Logistics is one of the fastest growing and most exciting companies in the 3PL space,” said Bob Farrell, chairman and chief executive officer of GlobalTranz.

“AFN has leveraged people, processes and technology to create unique solutions for its customers and develop strong carrier partnerships. Combining GlobalTranz’s and AFN’s network and technology along with the best talent in the industry creates a company that will exceed $1.5 billion in revenue and will further accelerate our growth and market leadership in the 3PL industry.”

GlobalTranz recently announced The Jordan Company, L.P. (TJC) as its new equity partner.

“We are pleased to support the acquisition of AFN by GlobalTranz,” said Brian Higgins, senior partner, TJC. Higgins added, “GlobalTranz is executing on its strategy to drive market leadership by strong organic and acquired growth. AFN is a strong fit with this strategy.”

“Our unique hybrid combination of the best independent freight agents in the industry with our strong direct channels is a clear differentiator. AFN will further enhance our channels to market,” added Farrell.