FitzMark completes acquisition of Indianapolis-based logistics partner

FitzMark, a leading freight broker based in Indianapolis, has announced its latest acquisition, Hometown Logistics. This marks the 10th acquisition for FitzMark since it opened in 2006, a testament to the company's growth and success in the industry.

The deal, which was closed on Tuesday, aims to expand FitzMark's dryvan and flatbed truckload offerings. According to the article, written by Todd Maiden, the acquisition will provide Hometown Logistics with additional tools and resources for growth.

Hometown Logistics, founded in 2018, has over 100 employees working in offices in Scottsdale, Arizona, Nashville, Tennessee, and Indianapolis. The company, known for its services in less-than-truckload (LTL) freight, is expected to benefit from FitzMark's brokerage services and proprietary Transportation Management System (TMS), which serves over 3,000 shippers and 25,000 carriers.

Scott Fitzgerald, the founder and CEO of FitzMark, expressed his excitement about the acquisition. He said, "We are thrilled to welcome Hometown Logistics to the FitzMark family. This acquisition is a significant step forward in our mission to provide comprehensive freight solutions to our customers."

Cole Ervin, the founder of Hometown, shared similar sentiments. He stated that Hometown has achieved a significant milestone, rising to the top despite challenging freight markets. Ervin expressed his excitement about the future accomplishments of Hometown and FitzMark together.

The acquisition comes at a time when the freight industry is grappling with tonnage slides and tonnage declines. The article mentions Saia, Old Dominion, and XPO as companies facing these challenges. However, with the addition of Hometown Logistics, FitzMark is poised to strengthen its position in the industry.

This is the third acquisition for FitzMark this year. Previously, the company acquired temperature-controlled broker High Point Logistics and less-than-truckload broker Pentonix Freight in April. Hometown Logistics will now be a part of FitzMark, further solidifying the company's position as a major player in the freight brokerage industry.

The financial details of the transaction were not disclosed. Nonetheless, with the backing of private equity firm Calera Capital, FitzMark continues to demonstrate its commitment to growth and innovation in the freight industry.