MODE completes acquisition of SunteckTTS, creating $2B company
Dallas TX-based MODE Transportation recently completed the acquisition of SunteckTTS.
The two companies are multimodal third-party transportation and logistics providers that, combined, will facilitate more than 1.5 million annual customer shipments and generate more than $2 billion in revenue, MODE said.
The combined company will offer a range of capabilities across all major modes of transportation, including truckload, less-than-truckload, rail intermodal, drayage, air, ocean and parcel freight. The company will leverage its increased scale and resources to continue investing in technology and innovation for the benefit of its agent, shipper and carrier communities.
MODE is a privately held portfolio company of funds affiliated with York Capital Management. SunteckTTS is a portfolio company of funds affiliated with Comvest Partners, which will continue to own an interest in the company following the completion of the transaction.
“Since the announcement of the combination of MODE and SunteckTTS, we have received overwhelmingly positive feedback from our employees, agents, carrier partners and shippers,” said Ken Forster, president and chief operating officer of MODE, and formerly CEO of SunteckTTS. “We are excited about our new team and capabilities and look forward to integrating our platforms and gaining the benefits of this industry changing transaction.”
