Sydney-based logistics start-up Ofload has acquired Melbourne-based freight specialist CIA Logistics for an undisclosed sum, marking Ofload’s first acquisition since it started its operations three years ago.
A phased, post-merger integration and growth strategy is underway, in which the CIA Logistics brand will be retained.
“We are thrilled to welcome CIA Logistics into the Ofload family as our first acquisition,” said Geoffroy Henry, Founder and CEO of Ofload.
The acquisition is expected to increase employee numbers to 120 across Sydney, Melbourne and Brisbane, with CIA Logistics’ Founder and Director Tony Couttie stepping into a General Manager position at Ofload.
Henry said that operations, sales and finance teams will continue to report to Couttie.
“Tony has built an incredible business, and the natural synergy between our teams was clear as they worked together to digitise analogue road shipments for some of Australia’s leading brands,” he said.
“This exciting milestone for Ofload is just the start of our next phase of growth, which is focused on expanding our footprint and building our digital ecosystem and network of shippers and carriers. Uniting both businesses will accelerate Ofload’s objectives to increase shipment visibility, minimalise manual and analogue processes, and ultimately remove inefficiencies across Australia’s freight industry.”
Founded in 1987, CIA Logistics delivers customised or standardised local and national freight solutions via air, road, rail and sea.
The acquired company’s Dispatch Management System technology and expertise will be merged into Ofload’s domestic end-to-end digital road freight solution.
“We are delighted to become part of a leading innovator and mission-driven company, in what we believe will be a game changer for the logistics industry,” said Tony Couttie, General Manager of CIA Logistics at Ofload.
“Ofload’s technology will bring a wealth of new opportunities to our customers and carrier partners and will support us in growing our reach across the Australian freight landscape. We see the integration of CIA Logistics into Ofload as a perfect fit,” Couttie said.
The consolidation will support Ofload’s plans to reduce the number of empty trucks on Australian roads and eliminate all waste in road freight, while continuing to meet the rapidly evolving needs of shippers and carriers alike.
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In December 2021, Ofload raised a $20 million Series A funding round, backed by investors including King River Capital, Flexport, Bay Grove and Maersk Growth. Since then, the digital freight forwarder has reported a 500 per cent revenue growth.
Source: Ofload media release. Content has been edited for style and length.