P&S Transportation takes over Purdy Brothers, Loudon County.
22 October 2014 - US transportation company PS Logistics Ltd announced that its portfolio firm P&S Transportation had purchased Purdy Brothers Trucking and Loudon County Trucking without disclosing financial specifics.
The acquisition will expand P&S' clients base, its trucking terminals and lanes and will add 220 new drivers, 210 tractor trucks and over 500 trailers to its fleet, the company said in its statement. The transaction will also allow the company to enter the markets in Tennessee, Florida, Illinois and Virginia, where it will reach new clients in the aluminium, steel, food and building materials segments.
The deal will expand the company's geographical coverage and capacity in the North and Southeast, said P&S president Houston Vaughn.
It is a great opportunity for Purdy Brothers and Loudon County's employees and clients to be part of a leading logistics company such as P&S, said Purdy Brothers/Loudon County president Doug Surrett.
The combined companies will operate under the PS Logistics hat, but will retain their brand names.
Sector: Road Transport/Freight Transport
Target: Purdy Brothers Trucking, Loudon County Trucking
Buyer: PS Logistics Ltd
Type: Corporate acquisition