ShipX closes the e-commerce shipping loop through an acquisition
E-commerce transportation provider ShipX announced the acquisition of Princeton Logistics and its subsidiary, TriStar Carriers. The deal adds first and middle carrier services to ShipX’s primarily last-mile parcel offering.
Based in Princeton, New Jersey, Princeton Logistics offers a full range of contract brokerage services for full truck loads along the East Coast through a network of more than 1,100 carriers. The company also negotiates electric truck and truck delivery services.
TriStar, based in Jacksonville, Florida, is a mid-mile carrier for the retail and e-commerce sectors, using a fleet of sprinter vans, box trucks and drop-trailers. The company also provides inbound air cargo, airport-to-airport transfer, and expedited shipping services to and from the East and West Coasts.
“We are thrilled to have the incredible employees of Princeton Logistics and TriStar Carriers joining the ShipX family,” Solomon Zakinov, CEO and Founder of ShipX, said in a press release. “This acquisition ensures that we will continue to meet the ever-changing needs of today’s e-commerce shippers – especially in major markets – while providing affordable and reliable logistics services.”
All companies will operate as ShipX. Jim Neebling, the former president of Princeton Logistics, has been named director of logistics at ShipX.
Financial terms of the transaction were not disclosed.
“We are thrilled to partner with ShipX and even more excited to be able to offer our customers a more complete turnkey shipping solution,” said Neebling. “Shippers wanted a new end-to-end shipping solution and we are happy to offer one starting today.”
New York-based ShipX launched in early 2021 “in response to the ever-growing and evolving shipping needs of retailers, e-commerce businesses, and 3PLs.” Its client list also includes major carriers and private fleets.
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