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US trucking and shipping firm Momentum Transportation acquires JIX International Freight Services
Jacksonville-based firm Momentum Transportation USA Inc announced on Friday that it has purchased JIX International Freight Services. The financial terms of the transaction were not disclosed, according to The Florida Times Union.
Momentum said the acquisition will increase its market reach all over the world. The company had mainly focused on its local trucking and overseas shipping services. According to chief operating officer (COO) John Emery, the firm started planning for the expansion of its air capabilities in summer. The two companies began discussing the acquisition deal in late fall, the report explained.
Launched 12 years ago, Momentum is an agent of the global logistics firm Landstar. It currently employs over 60 workers. Founded in 2011, JIX was also an agent of Landstar. Its market reach included the Caribbean, Europe, Middle East, India, and Asia, the report detailed.
Brian Putzke, president of Momentum, said in a news release: "The addition of JIX International Freight Specialists to the Momentum team adds to our international air capabilities, and specifically increases our capacity to service overseas markets by air."