Hudson Hill Capital announced it acquired majority stakes in Glen Rock-based Global Transport Logistics Inc. (GTLi) and Am Trans Expedite Inc. to form Fusion Transport LLC, a newly established logistics holding company.
This transaction brings together proprietary capacity and innovative solutions to create an evolutionary national logistics network, focused on retail consolidation, less-than-truckload (LTL) shipping and multimodal transportation brokerage.
The founders and senior executives of both GTLi and Am Trans retained significant equity in the combined company and will continue in key leadership roles. The two companies will operate as subsidiaries of Fusion Transport.
GTLi operates one of the highest performing retail vendor consolidation services in the industry with dedicated warehouses in New Jersey, Texas and California. Through this network, GTLi consolidates LTL shipments from multiple vendors for weekly truckload delivery. The company consistently delivers freight to Walmart, Target, Dollar General and other major retailers with well over 90 percent on-time compliance. On a combined basis, Fusion Transport will launch a fourth consolidation point in Illinois in the third quarter of 2019.
The merger of GTLi and Am Trans establishes the Fusion Transport network, a cost-competitive, high-performance partner to move retail, grocery and volume LTL freight. Fusion Transport ships weekly to every part of the country from hubs in northern New Jersey, northern Texas, southern California, northern California and the greater Chicago area. The company excels at moving freight into demanding delivery environments, leveraging over 400 combined pieces of equipment, a dedicated internal fleet for local pickup and delivery, and more than 20,000 third-party carriers.
Capstone Headwaters was financial advisor to GTLi and Am Trans. Benesch Friedlander Coplan & Aronoff LLP was legal advisor to GTLi and Brownstein Hyatt Farber Schreck was legal advisor to Am Trans. Winston & Strawn LLP acted as Hudson Hill’s legal advisor. Ally Financial provided acquisition financing for the transaction.