Phoenix-based logistics provider FreightVana announced on Wednesday it plans to acquire freight brokerage Loadsmith, further solidifying its position in the power-only logistics market. The acquisition, set to be finalized by the end of the month, will see Loadsmith’s employees transition to the FreightVana team, operating under its established brand. This move aims to enhance FreightVana’s capabilities and accelerate its growth in delivering technology-driven freight solutions.
“We both built our companies with virtuous intent for carriers, shippers, employees and the industry. … So I am honored to have his team join us here,” FreightVana co-founder and co-CEO Shannon Breen told FreightWaves of Loadsmith CEO Brett Suma, who will continue to advise the transition of his company.
“When we started thinking about divesting the brokerage operations of Loadsmith, we wanted to find a true custodian of the business. … We also wanted a partner that believed in the future of power-only and …