Echo brings FreightSaver into the fold

Chicago-based third-party logistics and technology-enabled transportation services provider Echo Global Logistics announced earlier today it has acquired Huntington Beach, Calif.-based Freight Saver, a provider of third-party logistics (3PL) services.

A purchase price was not disclosed.

Established in 2014 by CEO and Co-Founder Ryan Renne and President and Co-Founder Buster Schwab, FreightSaver also has locations in Park City, Utah, Rochester, Michigan, Columbus, Ohio, and Temecula, California. The company operates as a “fast-scaling, tech-forward 3PL,” and it has “all-in-one portal responsive service model,” according to Echo officials, serving shippers in various segments, including: Full Truckload, LTL (less-than-truckload), Expedited, Specialized Freight, and Managed Transportation.

“This acquisition is a great cultural and strategic fit,” said Doug Waggoner, Chief Executive Officer at Echo. “FreightSaver has built a customer-centric, tech-enabled business that complements our strengths and accelerates our ability to deliver value through managed transportation.”

Dave Menzel, Echo’s President and Chief Operating Officer, said in leading up to today’s announcement, Echo had been in talks with FreightSaver, regarding a potential deal, over roughly the last six months.

“FreightSaver adds expertise in developing and managing large enterprise opportunities,” said Menzel. “Echo gives FreightSaver even more resources to grow, due to our significant access to truckload capacity, advanced technology, which includes optimization and advanced planning, and our broad array of services like Mexico cross border transportation and retail consolidation. The FreightSaver team has a strong reputation for providing a high level of service and is a strong cultural fit with Echo!”

FreightSaver’s Renne said that joining Echo is a natural next step in the company’s journey.

“We’ve always focused on agility, personalized service, and long-term client relationships—values we clearly share with Echo. We’re excited for what’s ahead.”

This marks the eighth acquisition Echo has made and its first one since acquiring Roadtex Transportation Management in 2022.

In an April interview with LM, Echo’s Waggoner said that the company is active, in terms of M&A activity.

“We're looking at opportunities,” he said. “And it's hard to know when you're going to pull the trigger on one, but we think it's a good time to buy if you buy the right asset at the right price. I think other people are thinking the same way. Obviously RXO bought Coyote recently. I think there's also some troubled companies in our space. It's a tough market to make money if you don't have scale, so there could be some opportunities there to have some consolidation in the industry. I think the market has been relatively closed so far this year, but I think it will open up as we go out through 2025.”

Ben Gordon, founder and managing partner of Palm Beach, Florida-based Cambridge Capital, and managing partner of Ben Gordon Strategic Advisors (BGSA), called this deal a natural acquisition for Echo. 

“In some respects it completes the circle, as co-founder Buster Schwab was an early Echo employee,” said Gordon. “This gives Echo several advantages, including truckload network expansion, higher-margin LTL capabilities, and specialty project work. And this transaction is a sign that even though we have witnessed the worst freight recession in U.S. history, people are starting to make decisions as buyers and sellers once again.”