Transaction further establishes Purdy Brothers as an asset-light carrier in the refrigerated market in the southeastern United States
PS Logistics today announced that its Purdy Brothers Trucking subsidiary, based in Loudon, Tennessee, has completed an acquisition of certain transportation assets of Phoenix Leasing of Tennessee Inc. and entered into an agreement with Phoenix’s sister company, Colonial Freight Systems Inc., to contract with its drivers to continue to serve several of its southeastern blue-chip cold-chain customers. Financial terms of the transaction were not disclosed.
Based in Knoxville, Tennessee, Colonial was founded in 1943 by Clarence McBride and has continued to operate as a family business since its beginning. Blue-chip companies have relied on Colonial to meet their refrigerated transportation needs for nearly 80 years.
The transaction will further strengthen PS Logistics refrigerated operations in the Southeast by adding over 55 lease purchase drivers to Purdy Brother’s fleet, including over 50 new model tractors.
The acquisition continues PS Logistics’ acquisition strategy of partnering with families and quality owners within the flatbed, refrigerated and logistics markets. Since 2007, PS Logistics has successfully acquired 27 trucking and brokerage operations, including C2 Freight and Noble during 2022.
About PS Logistics
Founded in 2004 and headquartered in Birmingham, Alabama, PS Logistics is one of the largest and fastest growing transportation and logistics providers in the United States. PS Logistics provides full-service transportation services, including asset-based transportation, non-asset-based transportation, brokerage, third-party logistics managed transportation, warehousing, and supply chain services. This hybrid model delivers optimal flexibility to address customers’ transportation needs across various industries throughout the United States.
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