Digital freight marketplace CDL 1000 has expanded its market share into Los Angeles with the acquisition of competitor Next Trucking.
The Wall Street Journal reported the acquisition Monday morning, but the terms of the deal were not disclosed.
Next Trucking operates at the Los Angeles and Long Beach ports, an integral area for freight in the U.S. Currently, Chicago-based CDL 1000 lacks a presence there, and the acquisition seeks to rectify that. Founder and CEO Andrew Sobko told the Journal that the move makes the company one of the top three trucking players in Los Angeles and Long Beach.
Brookfield Growth and Mucker Capital financed the deal.
Next Trucking announced in June that it was looking for either additional capital or an exit. The news comes after a particularly harsh year in FreightTech with many major companies downsizing or forced to shut down.
This is a developing story. Check back here for details.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now