Brokerage Division of Shipwell Acquired by CloudTrucks
Logisyn Advisors is pleased to announce our role as the sell-side advisor to Shipwell, a leading supply chain solution provider, in the divestiture of their brokerage division to CloudTrucks. This acquisition highlights a broader industry trend where carriers are leveraging synergies between their controlled capacity and the expanded market reach that a brokerage can offer.
CloudTrucks is a virtual trucking carrier that offers technology-driven operations and capacity management for owner-operators. Shipwell, on the other hand, offers a holistic platform catering to shippers' every need — from transportation management and visibility to procurement — all within a user-friendly interface. The divestiture of Shipwell's brokerage division not only sharpens its focus on technological innovation but also opens a significant avenue for CloudTrucks to broaden its operational scope.
“Thanks to Logisyn Advisors, especially Max and Matt, our transaction with CloudTrucks was not just a sale, but a strategic move that aligns with Shipwell's future. Their tailored approach and industry expertise were indispensable.” - Jason Traff, President & Co-Founder of Shipwell
“Shipwell is widely recognized for developing a premier TMS within our sector, and refining their focus on software advancement reflects a strategic pivot towards their core strengths. Greg and Jason's forward-looking vision necessitated a realignment and sale of the brokerage part of their business. Logisyn's commitment to facilitating the perfect match between buyer and seller has truly shone through in this transaction, ensuring a seamless transition that aligns with everyone's strategic objectives.” - Max Ibata-Arens, Executive Sponsor at Logisyn Advisors
For more details on the acquisition, please refer to the press put out by Shipwell and CloudTrucks: