CDL 1000, a Chicago-based digital freight broker, has recently acquired NEXT Trucking, a counterpart based in Long Beach, California, focusing on the Los Angeles and Long Beach port complex. This move, terms of which were not disclosed, signifies a strategic expansion for CDL 1000, allowing it to significantly increase its presence and market share in one of the nation's busiest container port areas. This acquisition follows CDL 1000's recent purchase of Hickory Transportation Services, indicating a broader strategy to enhance its nationwide logistics services. The Wall Street Journal announced the acquisition.
The logistics and freight industry has faced challenges recently, with digital freight startups particularly impacted by a downturn in logistics and high interest rates affecting investment. Despite this, CDL 1000's acquisition was supported by notable investors including Brookfield Growth and Mucker Capital, who are optimistic about CDL 1000's potential for further growth and digital transformation in the logistics sector.
