FitzMark Acquires High Point Logistics, Pentonix Freight
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FitzMark expanded its footprint in the freight brokerage sector by acquiring High Point Logistics and Pentonix Freight, adding new capabilities in temperature-controlled and less-than-truckload shipping.
Indianapolis-based transportation management firm FitzMark closed the purchase of High Point Logistics, based in Jackson, Tenn., in March. It followed with the acquisition of Pentonix Freight on April 7. Financial terms of the transactions were not disclosed.
FitzMark ranks No. 96 on the Transport Topics Top 100 list of the largest logistics companies in North America and No. 50 on the freight brokerage list.
“HPL and Pentonix add to our existing capabilities in refrigerated, LTL and managed transportation,” FitzMark CEO Scott Fitzgerald said in a statement. “FitzMark has maintained a sterling track record across its acquisitions in delivering for shippers, carriers and personnel joining our platform, and I feel highly confident that will continue.”
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Founded nearly 20 years ago, FitzMark provides freight brokerage and managed transportation services. The latest acquisitions are its eighth and ninth as the company pursues a growth strategy supported by Calera Capital, a middle-market private equity firm.
The company has emphasized cultural alignment and leadership retention in prior deals, a strategy it intends to continue with the new additions.
“I’m excited about the opportunity this transaction creates for the team at HPL,” said R.E. Butts, founder of High Point Logistics. “The leadership at FitzMark, along with the strong culture that Scott and the team have developed, aligns perfectly with the vision we’ve always had for HPL.”
Butts said FitzMark’s long-term investment in Jackson was key to the agreement.
“This shared dedication to our roots and our people is one of the many reasons we’re confident in the success of this collaboration,” he said.
Salvador Cano, founder of Texas-based Pentonix Freight, said the acquisition will allow the company to expand on its mission to modernize supply chain services for manufacturers and distributors.
“By combining our expertise in LTL services with FitzMark’s broader capabilities, including truckload services, we are poised to offer our customers an even more comprehensive suite of solutions,” Cano said.
FitzMark said its expanded platform will enhance specialized transportation offerings while maintaining the high level of service its customers expect.
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