Financial terms of the transactions were not disclosed.
Summit provides value added warehousing and distribution solutions, container freight station services, first and last mile delivery, as well as container drayage, less-than-truckload, full truckload and cross-border ground transport. The company operates out of three facilities, which are located in Portland, Ore.; Kent, Wash. (in the Seattle-Tacoma area); and Vancouver, British Columbia.
Summit’s management, led by co-founder and president Bob Hodson, Matt Hodson and Sabine Morris, will continue with the business, joining STG as shareholders and members of its regional operations team.
“Our expansion into the Pacific Northwest is a critical step in the evolution of STG’s market-leading footprint,” STG Executive Chairman Chris Jamroz said. “While STG maintains leadership in the two largest port systems in the United States - Los Angeles/Long Beach and New York/New Jersey - we have not been able to respond to the incredible demand our customers have for solutions in Seattle-Tacoma, America’s third largest port, or in Portland and Vancouver."
Meanwhile, STG expanded its position in first and final mile delivery services through the acquisition of Freight Force.
Freight Force’s management, led by Chris Coppersmith, will continue with the business, joining STG as shareholders and senior members of its operations management team.
Anaheim, Calif.-based Freight Force operates the nation’s largest network of independent carriers serving freight forwarders and other third-party logistics providers.
Looking ahead, Konrad Salaber, managing director at Wind Point Partners, the private equity firm that acquired STG in July 2016, reiterated the fact that STG has no plans of letting up on its acquisition spree. Just last week, he said, “We expect that acquisitions will continue to complement STG’s strong organic growth as a driver of future value creation.”
Back in 2017, STG announced the acquisitions of Channel Distribution Corp. and the Extra Express division of Dicom Transportation Group.