Logistics and intermodal firm Hub Group has purchased freight broker Exel Transportation Services for about $83 million, it said Monday.
ETS is now operated as Mode Transportation, a subsidiary of Hub. The $83 million price is before closing adjustments, Hub said in a statement.
ETS’s top sales in 2010 were in intermodal, truck brokerage and less-than-truckload services, Hub said.
The company’s leadership, including President Jim Damman, will remain in their roles under the Hub ownership.
ETS, Dallas, was previously an affiliate of Exel Inc., a subsidiary of Deutsche Post DHL.
Hub Group is ranked No. 42 on the Transport Topics Logistics 50 list of the largest logistics companies in the United States and Canada.
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