Phoenix-based logistics provider FreightVana announced on Wednesday it plans to acquire freight brokerage Loadsmith, further solidifying its position in the power-only logistics market. The acquisition, set to be finalized by the end of the month, will see Loadsmith’s employees transition to the FreightVana team, operating under its established brand. This move aims to enhance FreightVana’s capabilities and accelerate its growth in delivering technology-driven freight solutions.
“We both built our companies with virtuous intent for carriers, shippers, employees and the industry. … So I am honored to have his team join us here,” FreightVana co-founder and co-CEO Shannon Breen told FreightWaves of Loadsmith CEO Brett Suma, who will continue to advise the transition of his company.
“When we started thinking about divesting the brokerage operations of Loadsmith, we wanted to find a true custodian of the business. … We also wanted a partner that believed in the future of power-only and possessed the acumen to operate a fleet of trailers at a high level. … We believe that the legacy Loadsmith brokerage operation will thrive under the stewardship of the Freightvana leadership team and look forward to watching it grow,” Suma told FreightWaves in an email..
The integration of Loadsmith’s operations into FreightVana’s innovative framework underscores the company’s commitment to leveraging technology for better efficiency. The collaboration also taps into FreightVana’s deep experience in blending asset trailers with technology to support diverse customer needs. This expertise traces back to its founders’ tenure at Knight-Swift Logistics, where they pioneered scalable trailer pool solutions for the power-only market.
The power-only logistics model — in which carriers transport freight without the need to own or maintain trailers — addresses critical industry challenges. By reducing facility dwell times for carriers and offering shippers greater flexibility, this offering has become popular across the industry.
FreightVana has consistently focused on leading this segment, as seen in its nationwide deployment of FreightVana X with more than 1,000 trailers in 2022. The model empowers small and medium carriers to access drop-and-hook freight opportunities typically reserved for larger fleets, while enhancing operational efficiency for shippers.
Related: FreightVana’s power-only brokerage going nationwide with more than 1,000 trailers this year
Loadsmith’s power-only offering merging into FreightVana’s operations further consolidates FreightVana’s competitive advantage in the space.
Suma expressed enthusiasm about this alignment of strategies going into the new year and its evolving market trends: “I think 2025 is going to be the tale of two halves and that power-only will continue to gain market share as it is a differentiator, especially in the second half of the year. I think there will be additional entrants into the category as more traditional brokerages attempt to compete in the space. It is a segment of the industry that I believe continues to grow, led by some of the largest fleets that possess the ability to manage the trailer pools, damage and unauthorized use. I also see some current participants that struggle to manage those things reevaluating their stake and perhaps exit, giving those that have strong processes in place a chance to gain additional share.”
Breen also explains that taking on the costs and responsibilities of operating trailer assets is a significant challenge, especially for non-asset or asset-light brokers in a depressed market. However, he believes that with more equilibrium in the market, there will always be demand for power-only and drop trailer capabilities. He sees this as an opportunity for his company, as it is willing to invest in the asset base required to provide these services.
“I’m really proud of the hard work we’ve done on our network, our brand and building our team. The last three years have been tough, but their work has given us the ability to do a deal like this. … I’m really proud of that,” he said.
Chicago rivals P44 and FourKites resolve legal disputes
MyMechanic exec looks to streamline maintenance for small fleets
Vooma grabs $16.6M in funding as brokers prepare for market swing
The post FreightVana to acquire Loadsmith, grows drop trailer network appeared first on FreightWaves.
