The purchase of Milwaukee-based Global Freight Source by Valley-based GlobalTranz has been selected as the 2016 Deal of the Year Award by the Association for Corporate Growth-Arizona Chapter.
The “Deal of the Year” is an award given by the Arizona Chapter of the Association for Corporate Growth (ACG) to recognize a company or private equity firm for their accomplishments regarding a merger, acquisition or capital market transaction. The award recognizes a deal/transaction in the Arizona marketplace involving established businesses with between $10 million and $750 million of revenue that took place during calendar year 2016.
The Deal of the Year Award was given Tuesday night at a dinner at the Arizona Biltmore.
Translational Genomics Research Institute (TGen)’s merger with City of Hope and sale of Border Construction Specialties by Svoboda Capital Partners to The Sterling Group were the runners-up for the award.
“We are proud to recognize GlobalTranz’ acquisition with the Deal of the Year honor,” said John Prenzno, Board President for ACG Arizona. “We would like to congratulate the team behind this merger for their hard work, which was executed seamlessly to positively impact Arizona’s economy, benefit shareholders and ensure the preservation of jobs.”
GlobalTranz prides itself on its commitment to innovative logistics technology that makes freight movement as efficient as possible while matching shipper demand and carrier capacity in near real-time. The company is growing quickly and emerging as a leader in the industry — currently boasting a customer base of over 25,000 shippers. In 2017, Transport Topics ranked GlobalTranz as the 13th largest freight brokerage firm in the U.S.
Bob Farrell, chairman and CEO of GlobalTranz, expressed the company’s excitement to receive the honor, noting their continued interest in mergers and acquisitions to grow the company, including their recent acquisition of Logistics Planning Services, which was announced May 16.
“We are thrilled to be the recipient of the ACG Arizona Deal of the Year award for our acquisition of Global Freight Source,” said Bob Farrell. “We hope to be in the running again in the future as mergers and acquisitions will continue to be a key component of our growth strategy.”