In both the domestic and global front, the consolidation trend in the third-party logistics (3PL) industry remains a gathering storm – with record merger and acquisition activity being reported across all sectors.
In fact, many of the more notable deals took place late last year as more 3PLs aim to keep pace with the continued “Amazonization” of the global market. For example, MNX acquired Network Global Logistics, creating a market leader in time-critical logistics, while Penske bought Old Dominion Truck Leasing, expanding its core leasing business.
C.H. Robinson has acquired Italian transportation company Dema Service S.p.A. It marks the second European acquisition for C.H. Robinson in 2019. The company also acquired freight forwarding group Space Cargo, which expanded C.H. Robinson’s presence in Spain and Colombia. According to Armstrong & Associates Top 50 US 3PL Providers, C.H. Robinson topped the list with the highest 2018 revenue.