Lineage Logistics in Novi, a global temperature-controlled REIT and logistics solution provider, announced it has acquired Turvo Inc., a provider of supply chain management, collaboration, and visibility software. Terms of the deal were not disclosed.
The acquisition is an extension of the long-standing partnership between the companies — including a previous investment in Turvo by Lineage Ventures — and a combined vision for supply chain collaboration. With Lineage’s backing, Turvo will continue to focus on its customers, accelerate innovation in its technology offering, and expand into new and adjacent markets under its own brand as a wholly owned subsidiary of Lineage.
“Lineage’s acquisition of Turvo was a natural extension of our partnership, through which we successfully launched Lineage Link last year,” says Adam Forste, co-executive chairman of Lineage and co-founder and managing partner at Bay Grove, which founded and manages Lineage.
“We wholeheartedly believe in Turvo’s mission to increase visibility and synergies within the supply chain, and we see this as an opportunity for additional value creation for both Lineage and Turvo customers. I look forward to leading the new Turvo Board of Directors and working with leadership to advance its roadmap to drive smarter, more sustainable supply chains.”
Turvo connects people and organizations, allowing shippers, logistics providers, and carriers to unite their supply chains, collaborate in real-time, and accelerate growth. The technology unifies all systems, internal and external, providing one end-to-end solution to execute all operations and analytics while eliminating redundant manual tasks and automating business processes.
The company’s customers include some of the world’s largest Fortune 500 logistics service providers, shippers, and freight brokers.
“Today is an exciting time for Turvo’s employees, customers, and partners,” says Scott Lang, chairman and CEO of Turvo. “With backing from Lineage and Bay Grove, Turvo will accelerate innovation with much greater reach and scale than ever before, further advancing supply chain digitization globally. Our customers will benefit from greater investments into our vision and our technology.”
Greg Lehmkuhl, president and CEO of Lineage, says: “Deepening our relationship with Turvo shows how committed we are to innovation that furthers our purpose of transforming the food supply chain to eliminate waste and help feed the world. Through this investment we will accelerate industry-leading technology that leverages supply chain synergies at scale, addressing issues of density and utilization across the network and decreasing complexity and waste in the supply chain for all participants, from customers to shippers to carriers.”