Tuesday, October 21, 2008
Port Logistics Group Buys Two SoCal Firms
Venture funded Port Logistics Group, a new rollup focused on the transportation, logistics, and distribution industry, said today that it has acquired Rancho Dominguez-based Transport Express, and City of Industry-based 3rd Party Enterprise/Operon, two logistics providers based in Southern California. The firm--which launched itself today with a undisclosed amount of funding from Austin Ventures--did not disclose financial terms of the buys. The firm also acquired New Jersey-based Distribution Solutions/Jefco in the rollup. Port Logistics Group is based in Houston, Texas, and is being headed up by Robert Stull, former CEO of Roadway Express. The firm said its is launching with $100M in revenues from the acquired firms.