XPO Logistics to acquire North Carolina air charter provider
Greenwich freight services provider XPO Logistics Inc. announced Feb. 12 that it has acquired East Coast Air Charter (ECAC) Inc., which specializes in air charter brokerage, for $9.25 million.
William McBane, who founded ECAC as a non-asset owning charterer of cargo aircraft in 1997, will continue to lead the company from its Statesville, N.C., headquarters.
ECAC, which had about $43 million in revenues last year, becomes the latest in a series of acquisitions by XPO Logistics.
“We are now in a much stronger position to capture just-in-time freight and cross-border Mexico movements. All of our XPO offices will sell air charter, giving us another competitive advantage as we build scale,” said XPO Chairman and CEO Bradley Jacobs in a prepared statement. “Our acquisition pipeline is robust, with numerous prospects that fit our strategy for growth.”
XPO currently serves more than 7,500 clients in the retail, commercial, manufacturing and industrial sectors, offering freight brokerage, expedited transportation and freight forwarding services.