CAMDEN, N.J. and NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- NFI, a leading supply chain solutions provider, and Transfix, a leading digital freight platform, today announced that NFI has acquired Transfix’s freight brokerage operation. With this, Transfix will pivot its core business to solely focus on powerful software and data solutions for brokers, shippers, and carriers, with NFI set to be the first third-party customer to utilize Transfix’s TMS.
The talent and technology the Transfix team brings to NFI will help strengthen carrier and customer interactions and offer more robust brokerage solutions that will be coupled with NFI’s existing in-house technology. In addition, NFI will add over 15,000 carriers to its already extensive carrier network.
“We’re excited to welcome the Transfix brokerage team to NFI,” said Sid Brown, CEO of NFI. “Their experienced team provides an exceptional solution that aligns well with our strategy. We look forward to partnering with their customers and enhancing the experience for our current portfolio. As one of the largest and most diversified 3PLs in the marketplace, NFI can leverage its scale and offer its existing service offerings of dedicated transportation, warehousing and distribution, and port services to the Transfix customer base.”
Established in 2013, Transfix was the first tech-powered brokerage. Since then, the Transfix Intelligent Freight Platform™, a TMS with cutting-edge technology that utilizes automation and machine-learning to drive processing costs significantly below industry standards, has helped power the logistics networks of hundreds of leading retailers, consumer brands, manufacturers, and logistics companies. By divesting its freight brokerage operation, Transfix will now entirely focus on taking its technology to market as a SaaS and data solutions provider that addresses the distinct needs of brokers, shippers, and carriers.
“We believe the Transfix TMS will be a game changer for us,” shared David Broering, President of Integrated Logistics Solutions at NFI. “This acquisition and ongoing partnership is a great opportunity to accelerate our digital approach while combining our operational strength with their technical expertise to create more value for our customers and carriers.”
“NFI was the perfect cultural and operational fit for our customers, carriers, and team,” said Jonathan Salama, Co-founder and CEO at Transfix. “In addition to a deep commitment to outstanding service, NFI is dedicated to excellence in innovation and sustainability. We are thrilled to partner with an organization that shares our values and principles, and to seamlessly transition our brokerage business and the customers we serve to the welcoming hands at NFI. And now, with this acquisition, we’re able to expand our best-in-class solutions that have powered our business for over a decade to our peers in brokerage. This is an exciting time for all parties involved and we look forward to this next chapter.”
The newly launched Transfix organization will initially go to market with an expansive SaaS feature suite designed to bring operational efficiency and transparency to various stages of the truckload lifecycle for freight brokers, shippers, and carriers, and to deliver significant reduction in processing cost. Visit the Transfix blog to learn more about Transfix’s pivot to software and technology.
“As someone who grew up in the brokerage business, I am thrilled about the next chapter at Transfix,” said Drew McElroy, Co-founder and Chairman of the Board at Transfix. “Opening up our decade of technological advancements to brokers industry-wide is set to create substantial value for brokers everywhere. I am also deeply appreciative of NFI’s commitment to advancing the industry by incorporating our technology and for welcoming many of our talented teammates.”
Visit nfiindustries.com to learn more about NFI’s full suite of supply chain solutions.
McCarter & English, LLP and O’Melveny & Myers, LLP served as legal counsel for Transfix, and UBS served as financial advisor on the transaction. Cozen O’Connor served as legal counsel for NFI.
About NFI
NFI is a fully-integrated North American supply chain solutions provider headquartered in Camden, New Jersey. Privately held by the Brown family since 1932, the company generates more than $3.6 billion in annual revenue and employs over 17,250 associates. NFI owns and operates over 70 million square feet of warehouse space alongside a dedicated fleet of 4,900 tractors and 13,700 trailers. NFI’s relentless innovation and unparalleled service deliver logistics solutions that transform the way business gets done. The company’s business lines include dedicated transportation, warehousing and distribution, eCommerce fulfillment, brokerage, transportation management, port drayage, intermodal, global logistics, and industrial real estate. In addition, NFI’s venture capital group, NFI Ventures, invests and strategically partners with early-stage companies that seek to innovate and disrupt the supply chain and logistics industry. For more information, visit nfiventures.com. For more information about NFI, visit www.nfiindustries.com or call 1-877-NFI-3777.
About Transfix
In June 2024, Transfix pivoted its core business to solely focus on powerful software and data solutions for brokers, shippers, and carriers. Backed by ten years of expertise, innovation, and a deep understanding of the logistics operations of many of the largest businesses in North America, Transfix's expansive SaaS feature suite and data models are designed to bring operational efficiency and visibility to various stages of the truckload lifecycle and to deliver significant reduction in processing cost. Visit transfix.io to learn more about our new mission to help drive modern supply chain performance and impact at scale with the next-generation in freight technology.
