Third-party logistics provider Eco Global Logistics has agreed to acquire the managed logistics solutions business of transportation and IT consultancy Transimpact, Transimpact said late Tuesday.
TransImpact said the deal is expected to be finalized by the end of this year.
TransImpact said the sale will allow it to focus on its parcel consulting and negotiation business, as well as its business intelligence and demand planning services.
Founded in 2008 and based in Emerald Isle, North Carolina, TransImpact has its roots in parcel consulting. It assists parcel shippers to analyze their shipping expenses and with contract negotiations.
According to a person with knowledge of Echo’s business, Chicago-based Echo is working hard in the managed logistics space as it sees great potential in the segment.
Echo did not respond to an emailed request for comment on Tuesday.
Echo was acquired by Jordan Company, a private equity firm, in late 2021 for $1.3 billion.