FST Logistics, a fully employee-owned third-party logistics (3PL) provider based in Dublin, Ohio has acquired Dancer Logistics, a leading warehousing and transportation company from Delphos, Ohio.
This strategic acquisition is a major step forward in FST Logistics’ growth plan, further solidifying its standing in the logistics industry.
Dancer Logistics specializes in warehousing and transportation services. Its warehousing capabilities include cold and dry storage, along with value-added services like repacking and sorting.
Matt Hartman, chairman and CEO of FST Logistics, says: “With the addition of Dancer Logistics and its asset-based, temp-controlled truckload model, we are now uniquely positioned to continue the expansion of our temp-controlled transportations services throughout the US, offering unparalleled transportation and logistics full-service solutions to our customers.”
Logistics industry acquisitions
In February, digital freight specialist CDL 1000 acquired its rival Next Trucking. Chicago headquartered CDL1000 offers a fintech solution to shippers including drayage and intermodal. Its solutions assist companies to improve supply chain efficiencies and reduce waste.
In June, UPS announced it entered into an agreement to sell its Coyote Logistics business unit to RXO, Inc., for $1.025 billion. Coyote Logistics, based in Chicago, is a top global third party logistics (3PL) provider, partnering with 100,000 carriers and handling 10,000 loads daily.
A report by McKinsey & Company titled The shifting sands of M&A in transportation and logistics says the M&A environment is changing, as financial, market, and technology forces are transforming the industry.
“Would-be dealmakers should prepare for this new world now,” says the report.
North American third party logistics market
Business Market Insights reports the surging adoption of e-commerce and implementation of software solutions and adoption of big data analytics are among the critical factors driving the North America third party logistics market growth.
“Increased competitiveness in the industry is the major reason for third-party investing in automation and digitization. In the coming years, third-party logistics firms are expected to shift toward mobile technology to reduce paper records,” reads the report.
NOW READ: How shippers can keep the supply chain moving in hurricane season
Photo Credit: Dancer Logistics
Share this article
About the author
Sharl is a qualified journalist. He has over 10 years’ experience in the media industry, including positions as an editor of a magazine and Business Editor of a daily newspaper. Sharl also has experience in logistics specifically operations, where he worked with global food aid organisations distributing food into Africa. Sharl enjoys writing business stories and human interest pieces.
