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Indianapolis-based FitzMark LLC, a third-party logistics firm, has acquired a similar firm in Georgia that specializes in refrigerated freight, marking its seventh acquisition in four years.
Terms of the deal with GTO 2000 Inc., announced Thursday, were not disclosed.
Based in Gainesville, Georgia, GTO has about 30 employees, bringing total employment for FitzMark to 360, the firm told IBJ on Thursday. All of GTO’s employees and management team will stay in place.
“Adding to our knowledge and experience in the refrigerated vertical, GTO 2000 fits well with FitzMark’s existing platform,” said FitzMark founder and CEO Scott Fitzgerald in a media release. “We are excited to have GTO become a part of our team and provide them with the toolsets, capabilities, and resources to meet what are rapidly growing shipper and carrier needs.”
Founded in 2006, FitzMark is a nationwide logistics firm serving truckload, flatbed, refrigerated, and less-than-truckload freight markets. In addition to its headquarters at 950 Dorman St. in downtown Indianapolis, FitzMark has offices in Detroit; Atlanta; Chattanooga, Tennessee; Omaha, Nebraska; Buffalo, New York; and Birmingham, Alabama.
FitzMark’s strategy for growth through acquisition included its $40 million purchase in 2019 of Indianapolis-based competitor Reliable Source Logistics. At the time, the combined company had about 130 employees and annual revenue of about $145 million.
A representative of Fitzmark did not respond to a question on Thursday about current revenue.
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Scott Fitzgerald is becoming a national logistics icon! Glad he is an Indiana guy! Congrats FitzMark!