Business, Freight News, Logistics

Echo Global Logistics Acquires Fastmore Logistics

[ November 11, 2022   //   ]

Echo Global Logistics, Inc. announced their acquisition of Fastmore Logistics, a leading Chicagoland transportation broker. Fastmore’s extensive knowledge and core competency in selling domestic non-asset-based transportation services to international freight forwarders is a strong addition to Echo’s business.

“We’re excited to continue investing in industry growth opportunities, especially since going private with the Jordan Company almost one year ago,” said Doug Waggoner, Chief Executive officer of Echo. “This transaction allows us to expand into a new target market and build on Fastmore’s success.”

“Expanding our client base to include the domestic transportation of international freight forwarders through Fastmore is a natural extension of our business,” said Dave Menzel, President and Chief Operating Officer at Echo. “We’re pleased to invest in their extensive knowledge of international forwarding operations and look forward to working with Ray Sciuckas and his team.”

While Fastmore’s domestic operations are akin to Echo’s current portfolio of business, the acquisition provides Echo with a unique point of entry into an expansive network of expedited brokerage for the international freight forwarding market leveraging multiple equipment types, including cargo vans, straight trucks, and full truckload.

“Echo’s knowledge and passion for the digital transformation of the supply chain industry itself are great to align with,” said Ray Sciuckas, Founder and CEO of Fastmore Logistics. “We’re excited to join the Echo family who will continue to invest in our core business while expanding our capabilities and service offerings to freight forwarding clients.”

Republic Partners, LLC served as the financial advisor to Fastmore. Kirkland & Ellis, LLP served as legal advisor to Echo. Freeborn and Peters served as legal advisor to Fastmore.

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