Freightquote.com announces Twin Modal acquisition
OVERLAND PARK, Kansas
Dec. 1, 2005
Freightquote.com today announced that it has completed its acquisition of Twin Modal, a Minneapolis, Minnesota-based transportation brokerage provider specializing in truckload and intermodal solutions.
"Twin Modal will enable Freightquote.com to diversify and strengthen our service offering," said Tim Barton, president and chief executive officer of Freightquote.com. "We've had strong growth with our web-based transportation management solutions for small business, and Twin Modal has experienced good growth by providing transportation management services for larger businesses. With this acquisition, we will eventually be able to give customers of both companies more solutions including a broader range of mode and carrier options." The acquisition was attractive because Freightquote.com primarily provides services for small business customers with less-than-truckload freight shipments, while Twin Modal provides solutions for larger shipment sizes typically moving via truckload or intermodal carriers.
Founded in 1977, Twin Modal has a reputation for outstanding service, driven by its extremely loyal employees. Freightquote.com plans to continue to operate Twin Modal independently, and Chip Smith will remain in his role as president at Twin Modal.
About Freightquote.com
Freightquote.com is a leading provider of web-based freight transportation management services for small businesses. Its carrier comparison and shipment administration solutions simplify freight shipping and help customers manage their transportation spend.
Founded in 1998 and based in Overland Park, Kansas, Freightquote.com and its subsidiaries serve customers across North America. The company has nearly 500 employees and annualized revenues of more than $200 million. More information can be found at www.freightquote.com. |