Golden Triangle Ventures will acquire Cargo Management Group of Miami, the investment firm announced May 24.
The acquisition will support Golden Triangle Ventures’ plan to bolster the operations of its wholly owned subsidiary Lavish Entertainment, a concert production business, which seeks to develop and acquire operations in logistics, staffing, equipment and production. Terms of the deal were not disclosed.
Cargo Management Group, a provider of truckload, drayage, brokerage and last-mile services, also maintains “high-paying specialized loads in the gaming industry that transport slot machines to locations nationwide,” according to the release.
Golden Triangle Ventures, known by its stock symbol GTVH, is a consulting conglomerate focused on health, entertainment and technology. It’s based in the Las Vegas area.
“The acquisition of Cargo Management Group and its operations provides GTVH with a solid income stream to support its ambitions,” said Tom Zarro, owner of Cargo Management Group and largest noteholder in the investment firm. “The trucking and freight brokerage industry, being recession-proof, scalable and profitable, perfectly aligns with their goal.”
Zarro is confident Golden Triangle Ventures will grow Cargo Management Group, a business he helped launch in 2011, he said.
“With the expertise of the GTVH team, I have no doubt they will significantly expand this enterprise far beyond my current capabilities, given my time constraints,” he said. “Entrusting a reliable business partner to manage the company I built will allow me to focus on new ventures.”
The timeline for the acquisition was not disclosed. Golden Triangle Ventures was working to finalize the deal and transfer ownership of Cargo Management Group’s logistics operation, brokerage, licenses and other assets as of late last month.
The investment firm plans to incorporate all types of trucking freight movements and adding heavy haul into its logistics division.
Cargo Management Group made nearly $3 million in revenue in 2023, according to the release. It currently has contracts with J.B. Hunt Transport Services, C.H. Robinson Worldwide, Coyote Logistics and Echo Global Logistics.
