Geodis Acquires Freight Forwarder Velocity
July 20, 2021
Third-party logistics provider Geodis has acquired Plano, TX-based freight forwarding company Velocity Transport from Berkshire Hathaway subsidiary McLane Company, to add to its forwarding capabilities across a range of modalities.
Velocity provides freight brokerage services that include refrigerated and temperature-controlled freight, flatbed and less-than-load (LTL) trucking, intermodal, van and specialty options. Terms of the deal, which closed June 30, were not disclosed.
“As the industry experiences extremely tight capacity with shortages of drivers and trucks, and that is not going away anytime soon, we saw this as an opportunity to expand and grow our brokerage services,” said Jeff McDermott, SVP of transportation management for Geodis Americas. “We can offer customers more resources, and the ability to add more capacity to the network to support them.”