American Fast Freight Acquires Forwarder Global Transportation Services
American Fast Freight, Inc. (AFF), the largest U.S. domestic ocean freight forwarder specializing in less-than-container-load freight shipments, has acquired Global Transportation Services (GTS). AFF is currently owned by The Resolute Fund II, L.P., a private equity fund managed by The Jordan Company, L.P., and AFF’s management team.
Headquartered in Kent, Washington, GTS is a freight forwarding and third-party logistics company, specializing in ocean and air freight import and export, domestic transportation, customs brokerage, and warehouse services. With operations overseas and throughout the U.S., GTS focuses on providing premium freight forwarding services to U.S.-based companies operating in Asia.
The purchase of GTS will expand AFF’s geographic footprint and will create a global logistics platform that offers enhanced service capabilities to AFF and GTS customers.
GTS will operate as a new subsidiary under AFF, Inc., the parent company of AFF. Jason Totah, president and CEO of GTS will remain as president of GTS and will also serve on the AFF board of directors. Totah is also reinvesting a significant portion of his sale proceeds into an equity investment in AFF.
“In 2015, we expanded our reach into the Caribbean market with the addition of Caribbean Shipping Services,” said AFF, Inc. president and CEO Kevin Kelly. “Now, with the addition of GTS, AFF’s reach is global, providing customers with expanded services beyond our primary Jones Act markets of Alaska, Hawaii, Guam and Puerto Rico.”
“With the many synergies we share, we will be able to provide new service offerings and value to the customers of both companies,” said Totah.
AFF, headquartered in Fife, Washington, provides a wide range of ocean freight forwarding of dry and temperature control goods, trucking, project logistics, and warehousing-distribution services. The core business is ocean freight consolidating and forwarding, historically specializing in the domestic Jones Act markets of Alaska, Hawaii, Guam, and Puerto Rico.
The European Nonwoven Fabric Market Slows Down Near $7.6B