SMC³ acquires Transportation Costing Group
SMC³, the leader in LTL pricing and transit technology, has acquired substantially all the assets of Maryland-based Transportation Costing Group.
TCG provides truckload and less-than-truckload motor carrier customers with activity-based cost modeling software and other profitability management tools based on its patented accounting formulas. Since the economic downturn in 2008, TCG’s business has been growing steadily, and the company has predicted record-breaking revenues for 2015.
Founded in 1982, TCG’s cost-information system software is considered by its users to be the gold standard of the industry. With this acquisition, SMC3 will offer increased support to its LTL members, while opening its customer base up to truckload companies.
“TCG has an unassailable reputation in the motor carrier industry, not just for the software systems we provide, but for integrity,” TCG Chairman and CEO Ken Manning said in a statement. Manning will join SMC³ to help integrate the new products. “With SMC³’s pervasive reach in the transportation industry, it is the perfect organization to take our software to new heights.”
Current TCG clients include eight of the top 10 domestic LTL freight carriers, many of whom are SMC³ members.
“There are numerous synergies between SMC³ and TCG,” Jack Middleton, SMC³’s CEO, said in a statement. “Adding the industry-leading carrier costing software to our current portfolio of pricing and transit-time products will allow SMC3 to continue its path of sustainable growth.”