?? Edge Logistics Gets Acquired
FreightCaviar
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Good Monday morning. Today, we're shedding light on the acquisition of Edge Logistics and the leadership shift as Founder & Former CEO William Kerr steps down. Also, we're taking a look at some interesting freight broker revenue numbers.
??Question of the Day: How much revenue does the average freight brokerage generate per employee according to the latest data? Find the answer in today's What's Cookin' in Freight section.
TOP LANE MOVERS POWERED BY GREENSCREENS.AI
*Greenscreens.ai, forecasts real-time truckload buy prices that are suited to each freight brokerage's purchasing power using AI and machine learning. Its engine takes into account over 130 attributes and data points in each rate forecast.
?? WHAT’S COOKIN’ IN FREIGHT
?? Platform Science Acquires Trimble's Telematics. Platform Science is acquiring Trimble's telematics business, with the deal expected to close by mid-2025. Trimble will hold a 32.5% stake and a board seat in the expanded Platform Science. This unit, generating $300 million in revenue, tracks fleet performance and driver behavior. The merger aims to enhance driver experience, safety, and efficiency with advanced technologies. Craig Fuller, CEO & Founder of FreightWaves, commented, “Platform Science may become the most successful freight tech firm to come out of the VC era.”
?? Brokerages Average $1.2M+ Revenue Per Head. The average gross revenue per employee at freight brokerages over the past year is $1,267,516, according to Brush Pass Research. This figure represents gross revenue, not profit, with much of it going toward carrier payments. The consistency of this metric across brokerages suggests that high productivity and investments in technology are essential for staying competitive in an industry where the pressure to generate revenue is intense.
?? Seafood: A Hot Commodity for Thieves. A recent wave of seafood thefts has struck New Jersey and Pennsylvania, with over $350,000 worth of goods stolen. In Middlesex, NJ, a truck carrying $305,000 worth of shrimp was taken, while in Philadelphia, $42,000 worth of crab meat and a pallet of tuna were stolen in separate incidents. Seafood is enticing thieves because they can quickly resell the stolen products to local distributors.
TOGETHER WITH CTRL CHAIN
CtrlChain is a cost-effective solution that helps carriers secure more contract freight with reliable shipper companies. The company emphasizes stable income for carriers by fostering long-term, mutually beneficial partnerships between carriers and shippers.
CtrlChain system simplifies the day-to-day tasks of fleet owners and operators by digitizing and automating manual tasks such as managing delivery information, updating customers, and providing PODs. It replaces spreadsheets, emails, phone calls, and post-it notes by offering a single platform for planning, executing, and receiving payments for deliveries.
Edge Logistics and Its Quiet Acquisition
Edge Logistics, a freight brokerage headquartered in Chicago, has been acquired. Last year, Transport Topics ranked them as the 97th largest brokerage in the country, with $149M in gross revenue and $22M in net revenue.?
We had the opportunity to interview their Founder and CEO, William Kerr, two years ago at their headquarters.
Following the company's sale, Kerr has stepped down from his role as CEO.
Under Kerr’s leadership, the company:
The Acquisition
The acquisition took place last month and did not receive much publicity. Here is we what we know so far:?
Abdeljaber is now the CEO/COO at six companies:
What’s Next for Edge?
With new ownership and a CEO at the helm, changes are likely on the horizon. We wish Edge Logistics and their new CEO the best of luck, and congratulations to William Kerr on the successful sale!
TOGETHER WITH HIGHWAY
Highway is excited to announce the launch of Highway for VoIP, their latest solution designed to protect broker communications from phone fraud. Powered by Highway's advanced carrier identity engine, Highway for VoIP is fully customizable and seamlessly integrates into your existing phone system. It automatically blocks high-risk calls and reroutes those that don’t meet your requirements, ensuring secure, compliant, and fraud-free carrier interactions. Key Benefits include: - Automated carrier vetting - Instant blocking of fraudulent calls - Zero disruption to workflows Stay ahead of evolving threats and secure every communication channel with Highway! Read the full announcement.
?? AROUND THE FREIGHT WEB
?? Desmond Clark Featured in Inc. Former Chicago Bear tight end, now freight brokerage owner, Desmond Clark, was recently featured in Inc. where he discussed the growth of his brokerage. We got to interview him last year.
??? A Shipper's Tips for Brokers. Target’s Eric Williams offers his advice to freight brokers.
?? Thermonuclear Verdicts on the Rise. Courtrooms are witnessing an increase in thermonuclear verdicts, where massive payouts are impacting everyone within the freight/transportation industry.
?? Anticipating Port Disruptions. Radiant Logistics reports an increase in volume as companies preempt delays from the potential Oct. 1 port strike and trade tariffs changes.
?? Tesla's Semi Fire Report. A Tesla Semi truck fire in California last month required 50,000 gallons of water to extinguish according to the NTSB.
? Ship Cable Causes Bridge Collision? A loose electrical cable was discovered on the Dali according to the NTSB, though the final report will be released by the board at a later time.
THE FREIGHT CAVIAR PODCAST:
In this week’s episode of The FreightCaviar Podcast, we sat down with Clark Wellman, National Sales Director at AmeriPol, which provides outsourcing to Poland and Bosnia for all logistical needs.
Get a glimpse into a typical day at the company, learn more about how it came to be, plus get Clark's recommendations for his must-read books and top podcasts.
Check it out on YouTube, Spotify, or Apple Podcasts.
FREIGHT MEME OF THE DAY