SpeedX founder acquires AGS and aims to build a $1 billion end-to-end supply chain enterprise

Chris Zheng, founder and CEO of SpeedX, a tech-enabled last-mile delivery leader aims to create a $1 billion end-to-end supply chain solution infrastructure within 18 months following the acquisition of New York City headquartered, Accelerated Global Solutions, Inc. ("AGS").

Terms of the purchase were not disclosed and both companies will continue to operate as separate, cooperating entities under their existing brands. In 2024, SpeedX and AGS are expected to report revenues of more than $500 million.

The aquisition builds on a two-year collaboration between SpeedX and AGS, combining SpeedX’s last-mile delivery expertise with AGS’s strengths in customs brokerage and freight forwarding.

In his new role as President & CEO of AGS, Zheng will focus on building a comprehensive, integrated supply chain product suite, enabling customers to benefit from the combined services and network of SpeedX and AGS.

Chris Zheng is a seasoned entrepreneur specializing in international freight forwarding, e-commerce logistics, and supply chain management with a strong track record of building successful growth-oriented businesses. He began his career as a Finance Consultant at J.P. Morgan Chase before transitioning to the supply chain sector. After joining Air-City Inc. in 2003, Zheng rose through its ranks to become Owner and Executive VP of the company by 2019, when it became SEKO Logistics’ largest acquisition. Based in New York, Air-City was among the first group of freight agents authorized by the Chinese Government in 1994, holding a certificate of approval for the establishment of enterprises in China.

The idea for SpeedX was born out of the last-mile capacity crunch of 2021, as carriers and retailers struggled to meet the surge in online shopping demand caused by the COVID-19 pandemic. Starting with a dedicated fleet to initially service New York City, Queens and Brooklyn, SpeedX delivered its first parcel in November 2022. Just two years later, SpeedX has become a formidable last-mile carrier, reaching over 9,000 zip codes and more than 150 million consumers across the U.S. and Canada. With over 45 million parcels delivered to date, SpeedX expects to be delivering upwards of half a million parcels per day in 2025. Through partnerships with online marketplaces, major retailers, and fulfilment centers, SpeedX offers next-day and second-day delivery at ground shipping rates, along with alternative delivery options to reduce shipping costs.

Zheng’s deep industry knowledge, experience in scaling international businesses, and direct involvement in major transactions uniquely position him to lead the acquisition and continued growth of AGS in the global market. Accelerated Global Solutions (AGS) – previously owned by business entrepreneur, David Lu – brings a robust range of services to SpeedX, including international air and ocean freight forwarding, warehousing solutions, and licensed customs brokerage. With over 300 employees, AGS’s client portfolio includes leaders in Fast Fashion, Automotive, Healthcare, Tech, Metal and Perishables (Seafood), as well as eCommerce marketplaces, Direct Retailers, and Wholesalers.

AGS operates major warehouses and offices across North America, with key locations in New York, Chicago, Los Angeles, Miami, Atlanta, San Francisco, Portland, Dallas/Fort Worth, and Toronto.

Complemented by a robust presence in Greater China and Southeast Asia’s major ports, AGS is optimally positioned to facilitate high-volume cross-border trade and seamless logistics solutions, enabling swift entry into new markets.

“I’m proud to announce the acquisition of AGS and begin collaborating with its exceptional team,” said Chris Zheng. “AGS has achieved impressive growth, with revenues breaking key milestones and a consistent annual growth rate of 50%. In 2025, we’re expanding into Southeast Asia, Australia, and the EMEA region while executing an ambitious M&A strategy. By harnessing our combined strengths, we’ll identify new market opportunities, elevate our service offerings, and drive sustained growth.”

The acquisition aligns with Zheng’s vision of a fully integrated supply chain solution. By uniting AGS’s freight forwarding, customs brokerage, and middle-mile expertise with SpeedX’s last-mile delivery capabilities, this collaboration delivers immediate expansion opportunities for SpeedX’s domestic air zone-skipping program, providing clients across the U.S., Canada, Hawaii, Puerto Rico, and Alaska with faster, more economical shipping solutions.

“With the international logistics landscape evolving, our combined resources will address growing customer needs with agility, technology-driven efficiency, and a commitment to reliability,” Zheng continued. “Together, SpeedX and AGS are set to redefine the possibilities in logistics, poised to surpass $1 billion in business within 18 months and propel our international growth.”