An investor announced plans this week to take control of Express-1 Expedited Solutions, in order to expand the brokerage and forwarding business.
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Bradley Jacobs, an investor who previously backed waste management and equipment rental companies, said he plans to invest up to $135 million, along with $15 million from co-investors.
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I plan to build a multi-billion dollar transportation brokerage business over the next several years, Jacobs said in a statement. Express-1 is an ideal platform, with prominent positions in expedited services, freight brokerage and freight forwarding.
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Express-1 Expedited Solutions is a non-asset based transportation company that operates through its three logistics units.
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