In its second major acquisition in as many years, an Indianapolis-based freight management and third party logistics provider has acquired one of Chattanooga's fastest growing logistics companies.
FitzMark Inc., a 14-year-old warehousing and logistics servicing company, announced Wednesday it bought Logistics Made Simple (LMS) in Chattanooga. The purchase comes a year after FitzMark bought Reliable Source Logistics in 2019. The combined company will now have annual revenues of nearly $200 million.
LMS, which was owned by Brendon Wilson and Steven Smith, was started in 2008 and has grown over the past dozen years to nearly $50 million in annual sales as a freight broker specializing in flatbed transportation. LMS has about 80 employees at its headquarters in Chattanooga and at the Birmingham, Alabama office the company added in 2013.
Last year, INC. magazine included LMS as one of 13 local companies on its list of the 5,000 fastest growing businesses in America and LMS moved next door to the Eastgate Post Office in space formerly occupied by Virginia College.
"Combining forces with Logistics Made Simple adds a significant vertical to our platform of services," said Scott Fitzgerald, owner and president of FitzMark. "Their knowledge and experience in flatbed transportation coupled with our expertise in the dry van and reefer division set FitzMark up to outpace our competitors by adding significant depth to our arsenal of transportation solutions."
JD Davis, the president of Logistics Made Simple who is now president of FitzMark South, said both the Chattanooga and Birmingham offices will remain open and he expects business will continue to grow under the new owner.
"This was really a perfect match with very little overlap between the two companies," Davis said. "The fit couldn't be a better one from a core value, culture, and portfolio standpoint. Our customers will benefit from the resources that will be added to an already incredible customer service experience."
FitzMark was founded in 2006 by Fitzgerald after the serial entrepreneur sold Keg Logistics, which he helped start to work with craft brewers around the country to manage keg rental and distribution.
"Our aim has always been to become one of the most respected companies in the transportation industry," said Fitzgerald. "This acquisition pivots us well to achieve that goal, and we're always on the lookout for other opportunities to grow by acquisition."
Terms of the purchase were not disclosed.
Contact Dave Flessner at dflessner@tmesfreepress.com or at 423-757-6340