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Ascent acquires majority stake in Minnesota heavy-haul brokerage

Third-party logistics provider Ascent announced Tuesday it has acquired a majority stake in Central Minnesota Logistics (CML), a full-service brokerage focused on transportation solutions for overdimensional and heavy-cargo freight.

St. Cloud, Minnesota-based CML is now part of the Ascent Specialized business segment, which focuses on the transportation of oversized, heavy-haul and super loads across North America.

“CML supports our strategy of expanding service offerings to new customers across new markets,” Annette Luyten, Ascent’s senior vice president of domestic brokerage, said in a statement. “We will continue to acquire freight brokerage businesses where there is a strong fit with the Ascent platform.”

Ascent Specialized has customers in agriculture, mining, construction, wind, solar, oil and gas, manufacturing, and construction cranes. CML brings more than two decades of expertise in routing, compliance and coordinating flatbed, step deck, rolling gooseneck, multiaxle and stretch equipment to Ascent Specialized, according to a release.

Dave Demuth, owner of the former CML, will serve as president of the Ascent Specialized segment.

“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,” Demuth said in a statement.

Belleville, Michigan-based Ascent has more than 950 employees across 15 states. Ascent offers truckload, less-than-truckload, global forwarding, air charter, specialized and expedited solutions. The company moves about 250,000 shipments annually and had over $1.5 billion in revenue last year.

Watch: FreightWaves’ carrier update for April 4.

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