Cascadia Capital, an investment bank serving middle market clients globally, confirmed today that it acted as the exclusive financial adviser to Global Transportation Services, Inc. (“GTS”) on its acquisition by American Fast Freight, Inc. (“AFF”) a portfolio company of The Jordan Company.
Headquartered in Kent, Washington, GTS is a leading freight forwarding and third-party logistics company, specializing in ocean and air freight importing and exporting, domestic transportation, customs brokerage, and warehouse services. With operations overseas and throughout the United States, GTS focuses on providing premium freight forwarding services to U.S.-based companies operating in Asia.
AFF is the largest U.S. domestic ocean freight forwarder specializing in less-than-container-load freight shipments. The purchase of GTS will expand AFF’s geographic footprint and will create a global logistics platform that offers enhanced service capabilities to both AFF and GTS customers.
“We are very excited to be part of the AFF family of companies. With the many synergies we share, we will be able to provide new service offerings and value to the customers of both companies,” said, Jason Totah, President & CEO of GTS who will remain as President of the Company and will also serve on the Board of Directors for AFF. “We could not have chosen a better partner to strengthen the overall market position of AFF and GTS.”
“Cascadia’s knowledge of the market and buyers was instrumental in focusing our time on the best potential partners for GTS and efficiently getting the deal to the finish line,” added Totah.
This transaction follows the acquisition of Watkins & Shepard by Schneider International during the second quarter, another key transaction represented by Cascadia in the Transportation and Logistics space.
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