Echo Global Logistics Purchases Comcar Logistics
February 26, 2014
Echo Global Logistics has announced its acquisition of Comcar Logistics, a non-asset-based truckload brokerage based in Jacksonville, Florida.
The Chicago-based Echo, which provides technology-enabled transportation and supply chain management services, says the deal will strengthen its presence in the Southeast and Colorado.
Founded in 2011, Comcar is led by Lane Turner, who will serve as a regional vice president, working with the Echo management team.
During the prior 12 months, Comcar Logistics had approximately $15 million in gross revenue.
Earlier this month Echo reported 2013 net income of $14.2 million, up 15.3% from the year before, while revenue was $884.2 million, an increase of 16.7% during the same time.
This year the company is projecting total revenue of between $1.02 billion and $1.08 billion.