FORT SMITH, Ark.— Supply chain logistics company ArcBest will acquire MoLo Solutions, LLC, a Chicago-based truckload freight brokerage, to become a top 15 U.S. truckload broker with access to more than 70,000 carrier partners, according to an ArcBest news release issued on Oct. 1.
“We are pleased to add MoLo’s significant capabilities and talent to our truckload brokerage offering, allowing us to better meet the critical needs of our customers, deliver comprehensive supply chain solutions and accelerate our company’s continued growth,” said Judy R. McReynolds, ArcBest chairman, president and CEO.
“Since its founding four years ago, MoLo has built a strong foundation and reputation for excellence based on trusted customer and carrier relationships, as well as a proven ability to offer unsurpassed service. Since we began discussing a possible transaction several months ago, it became clear what a great fit MoLo was with ArcBest.”
ArcBest president of Asset-Light Logistics and chief yield officer Danny Loe said the truckload brokerage business offers “tremendous market opportunity … and we are pleased with continued growth and progress in that area. Our relationships are built on trust. Providing a seamless and significantly enhanced truckload brokerage offering will strengthen and grow our customer relationships. We’re excited to have Andrew Silver, an experienced Chicago-based leader, overseeing that offering for ArcBest.”
Andrew Silver, CEO of MoLo, said the company has spent the “last four years building a great organization, with a vision to create the best experience in the industry for our employees, drivers, and shipper partners. We believe this partnership with ArcBest further advances the opportunity we have to achieve our vision.”