Ascent Acquires Majority Stake in Central Minnesota Logistics

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Apr 05, 2022, 09:00 ET

Bolsters Ascent Specialized and supports the Company's strategic growth plan

BELLEVILLE, Mich., April 5, 2022 /PRNewswire/ -- Ascent, a leading global logistics company, announced today that it has acquired a majority stake in Central Minnesota Logistics ("CML"), a full-service brokerage focused on transportation solutions for over-dimensional and heavy-haul freight across North America. CML is now part of the Ascent Specialized business segment, which focuses on the safe, reliable and timely transportation of oversized, heavy haul and super loads of all kinds across North America.

"We are thrilled to announce this acquisition. CML supports our strategy of expanding service offerings to new customers across new markets," stated Annette Luyten, Senior Vice President of Domestic Brokerage for Ascent. "We will continue to acquire freight brokerage businesses where there is a strong fit with the Ascent platform," Luyten continued.

The acquisition of CML bolsters the partnerships Ascent Specialized has with existing customers and strengthens its position in multiple industries, including agriculture, mining, construction, wind, solar, oil and gas, manufacturing and cranes. CML's team brings more than two decades of expertise in routing, compliance and coordinating flatbed, step deck, rolling gooseneck, multi-axel and stretch equipment.

"This investment by Ascent accelerates our growth plans," said Dave Demuth, President of Ascent Specialized. "As we grow the Ascent platform, we continue to set ourselves apart in the logistics industry with top tier customer service and the ability to solve any logistics challenges."

About Ascent
Ascent solves supply chain challenges for thousands of customers worldwide. With over $1.5 billion in revenue and a dedicated team of 950+ industry experts in 21 locations across North America, Ascent is a recognized supplier of the year for multiple Fortune 500 companies as well as a partner to thousands of small and medium sized businesses. The company's global reach, deep knowledge and innovative technology platform, PEAK, uniquely position its team to flawlessly execute in delivering goods worldwide via all modes. Ascent's #1 market share in the demanding domestic ground and air expedite market has provided it the foundation to handle even the most complex logistics challenges. Ascent's offerings include truckload, less-than-truckload, global forwarding, air charter, specialized, and expedite solutions. The company moves over 250,000 shipments annually through its competitive freight marketplace. For more information about the company, please visit Ascent's website: www.ascentlogistics.com.

SOURCE Ascent