Celadon Trucking acquires Warrior Xpress (1 Viewer)

sportsou

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INDIANAPOLIS—Celadon Group Inc., a provider of long-haul, full-truckload freight service in the United States, Canada, and Mexico, said today one of its wholly-owned subsidiaries has acquired the truckload business and certain tractors and trailers of Warrior Xpress, a trucking services provider in Charles City, Virginia, for approximately $8.3 million.

According to unaudited financial statements, Warrior Xpress generated roughly $20 million in gross revenue in 2006, noted a press release issued by Celadon.

Celadon chairman and CEO Steve Russell said in a press release that the goal of this acquisition is to continue to broaden the company’s customer base with quality customers, add density in primary traffic lanes and gain experienced drivers. He likened this acquisition to similar ones Celadon has made in the past, including Digby Truck Lines, CX Roberson, and Highway Express.

"Based on our evaluation of the business, we believe Warrior had a core group of quality customers and drivers, but suffered from the excessive cost structure that plagues many mid-sized carriers,” said Russell in a press release. “We expect to integrate the acquired operations promptly. As part of the integration process, we expect to optimize the combined customer, driver, and equipment base to improve asset productivity. We believe we can enhance the service to Warrior’s former customers through an upgraded equipment fleet, excellent technology, more available assets for dispatch, and an outstanding safety record.”.

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Jayhawk

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Wow, the big just keep getting bigger, and the smaller guys continue to get snuffed out.
 

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