Transfix Sells Brokerage Unit to NFI

Digital freight company Transfix has sold its brokerage unit to trucking and warehousing company NFI Industries. NFI, which is based in Camden, N.J., and has facilities at ports and freight hubs across North America, will absorb more than 100 Transfix employees and will become the software business’s first client. Transfix and NFI did not disclose details of the cash transaction

“NFI was the perfect cultural and operational fit for our customers, carriers, and team,” said  Jonathan Salama, Co-founder and CEO at Transfix. “In addition to a deep commitment to outstanding service, NFI is dedicated to excellence in innovation and sustainability. With this acquisition, we’re able to expand our best-in-class solutions that have powered our business for over a decade to our peers in brokerage. This is an exciting time for all parties involved and we look forward to this next chapter.”

Dave Broering, NFI’s president of integrated logistics, told the Wall Street Journal that the Transfix acquisition will add 175,000 brokered loads to the company’s pipeline. More important, he said, it will allow the company to offer its customers automated transactions.

NFI CEO Sid Brown said, “As one of the largest and most diversified 3PLs in the marketplace, NFI can leverage its scale and offer its existing service offerings of dedicated transportation, warehousing and distribution, and port services to the Transfix customer base.”

The Digital Freight brokerage space has seen several transitions over the last year, with Convoy going out of business last year after having once been valued at $3.8 billion, and Next Trucking’s  acquisition by CDL 1000 in February.