Estes Forwarding Worldwide (EFW), one of the leading domestic and international freight forwarders and logistics companies in the United States and a subsidiary of Estes, today announced plans to acquire Superior Brokerage Services (SBS), a Minneapolis-based, single-sourced supply chain company specializing in domestic and international transportation, U.S. customs brokerage services and warehousing.
EFW, which is celebrating 20 years of business this month, expects the acquisition to double its annual revenue. The deal will include SBS of Asia, giving EFW a footprint in the region and control tower in Taiwan. This supports the growth of EFW’s international services into new markets, increases international capacity and allows it to engage much deeper into the supply chain, ultimately leading to better end-to-end solutions for U.S. customers.
“SBS has built a tremendous reputation in our industry,” said Scott Fisher, CEO of EFW. “We complement each other’s business very well with very little overlap, and together, we’ll prove to be more agile in servicing our customers, both internationally and domestically.”
Added Paul Goff, founder and president of SBS: “We are thrilled to join the Estes family and bring our expertise to EFW. While we have similar philosophies, our companies have succeeded in different areas. Combining our strengths will enable us to better serve customers across the globe.”
Goff will stay on with EFW as Executive Vice President, and Fisher will continue to lead the combined companies. The acquisition is expected to close at the end of October and increases EFW from 750 employees to more than 1,100, with hiring ongoing over the next few months.
“There’s a lot to celebrate this year, and looking back on our 20-year history, it’s remarkable to be within striking distance of the $1 billion mark,” Fisher said. “Joining with SBS to bolster our global services is a monumental achievement, and we are extremely appreciative of our team’s dedication and hard work throughout our entire 20-year journey.”
“We also are proud of the E in EFW and would not be where we are today without Estes’ unwavering support and reputation,” Fisher said. “We look forward to utilizing the expanded SBS network and capability to deliver more value to the Estes enterprise and leveraging the base of over 20,000 active customers.”