Newgistics buys LMI

Newgistics buys LMI

Austin, TX-based 3PL Newgistics has acquired fellow 3PL Logistics Management Inc. (LMI), which primarily offers LTL freight brokerage services. While terms were not disclosed, Bill Razzouk, CEO of Newgistics, said he expects that by buying LMI, his firm can expand its portfolio of service offerings and thus build up its revenue base.

”Many small- and mid-sized companies do not have cost-effective options for LTL shipping. However, with our acquisition of LMI, we will be positioned to offer streamlined, centralized inbound and outbound LTL transportation management,” he said.

Razzouk added that as a combined entity, Newgistics and LMI could offer reduced handling costs, more efficient and accurate freight bill audits and payment services, plus convenient Internet-based rating and enhanced transportation reporting tools for retailers, distributors, manufacturers and other 3PLs that ship LTL freight.

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