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Thursday, May 30, 2024

American Fast Freight, Inc. Acquires Leading Ocean and Air Freight Forwarder Global Transportation Services, Inc.

American Fast Freight, Inc., the largest U.S. domestic ocean freight forwarder specializing in less-than-container-load freight shipments, today announced that it had acquired Global Transportation Services, Inc. AFF is currently owned by The Resolute Fund II, L.P., a private equity fund managed by The Jordan Company, L.P., and AFF’s management team.

Headquartered in Kent, Washington, GTS is a leading freight forwarding and third-party logistics company, specializing in Ocean and Air Freight Import/Export, Domestic Transportation, Customs Brokerage, and Warehouse Services. With operations overseas and throughout the U.S., GTS focuses on providing premium freight forwarding services to U.S.-based companies operating in Asia. The purchase of GTS will expand AFF’s geographic footprint and will create a global logistics platform that offers enhanced service capabilities to AFF and GTS customers.

GTS will operate as a new subsidiary under AFF, Inc., the parent company of AFF. Jason Totah President & CEO of GTS will remain as President of the Company and will also serve on the Board of Directors for AFF. Jason Totah is also re-investing a significant portion of his sale proceeds into an equity investment in AFF.

“We are extremely excited about the combination of GTS and AFF and we are thrilled to welcome Jason Totah, a proven and talented leader, to our senior management team,” said AFF, Inc. President and CEO, Kevin Kelly. “In 2015, we expanded our reach into the Caribbean market with the addition of Caribbean Shipping Services. Now, with the addition of GTS, AFF’s reach is global, providing customers with expanded services beyond our primary Jones Act markets of Alaska, Hawaii, Guam and Puerto Rico.”

“We are very excited to be part of the AFF family of companies. With the many synergies we share, we will be able to provide new service offerings and value to the customers of both companies,” said Jason Totah. “We could not have chosen a better partner to strengthen the overall market position of AFF and GTS.”

Mayer Brown LLP served as legal counsel to The Jordan Company. Cascadia Capital LLC served as the financial advisor to the seller.