C.H. Robinson Worldwide, Minneapolis, has bought third-party logistics provider Smith Terminal Transportation Services, which does business as FTS.
FTS, Miami, is a third party logistics company that provides truckload, less-than-truckload (LTL), LTL consolidation and intermodal transportation brokerage services. Like C.H. Robinson, FTS is non-asset-based. One of the largest third party providers in South Florida, it provides transportation and logistics services throughout the United States to approximately 1200 customers. FTS has 37 employees, and had gross revenues of approximately $27 million in 2001. Terms of the acquisition were not disclosed.
"FTS is a great fit for Robinson," said Greg Goven, senior vice president of C.H. Robinson. "They are a very strong player in the region, with multimodal capabilities that will allow them to quickly begin selling C.H. Robinson's network. They have terrific people and solid customer relationships and carrier relationships. And they do a tremendous amount of LTL and LTL consolidation, which will fold nicely into our fast-growing LTL business."
FTS has been operating since 1985. Lee Futernick, currently president of FTS, will remain at the company through a transition period. Vice presidents Marc Wright and Phil Magill will remain with the company as managers of the new C.H. Robinson branch office.
C.H. Robinson is one of the largest third-party logistics companies in North America.
FTS, Miami, is a third party logistics company that provides truckload, less-than-truckload (LTL), LTL consolidation and intermodal transportation brokerage services. Like C.H. Robinson, FTS is non-asset-based. One of the largest third party providers in South Florida, it provides transportation and logistics services throughout the United States to approximately 1200 customers. FTS has 37 employees, and had gross revenues of approximately $27 million in 2001. Terms of the acquisition were not disclosed.
"FTS is a great fit for Robinson," said Greg Goven, senior vice president of C.H. Robinson. "They are a very strong player in the region, with multimodal capabilities that will allow them to quickly begin selling C.H. Robinson's network. They have terrific people and solid customer relationships and carrier relationships. And they do a tremendous amount of LTL and LTL consolidation, which will fold nicely into our fast-growing LTL business."
FTS has been operating since 1985. Lee Futernick, currently president of FTS, will remain at the company through a transition period. Vice presidents Marc Wright and Phil Magill will remain with the company as managers of the new C.H. Robinson branch office.
C.H. Robinson is one of the largest third-party logistics companies in North America.
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