Transportation and logistics M&A: Evans Network acquires certain assets of Land Transportation and Phoenix Transit and Logistics
Jeff Berman -- Logistics Management, 10/15/2009
SCHUYLKILL HAVEN, Pa.-The Evans Network of Companies, a logistics services provider across various segments including intermodal container and trailer drayage, van truckload, and flatbed, said this week it has acquired certain assets of two companies-Land Transportation, a provider of truckload and specialized services, and Phoenix Transit and Logistics, a provider of truckload, LTL, refrigerated, drayage, and warehousing services, among others.
Financial terms of these acquisitions were not disclosed. Evans' officials said that these deals will allow the company to expand into several new areas by acquiring the container drayage, domestic truckload, and brokerage assets of Land Transportation and Phoenix Transit and Logistics.
In an interview with LM, Albert "Bert" Evans, Jr., president and CEO of Evans Network, said that the company is always looking to increase [its] equipment capacity and these companies were an excellent match.
"We will continue to seek new opportunities to maintain our large, national position in the international transportation and logistics market," said Evans. He also noted these deals had been in the works since last July.
In terms of shipper benefits pertaining to these acquisitions, the Evans Network now has 25 new locations, with 13 of those adding new geographic coverage for its customers. Among the new ones cited by Bert Evans are service centers in North Dakota and Minnesota. He also pointed out that Evans' customers may use a single point of contact at its corporate office for shipping needs and requests, as well as the company's local offices.
When asked how Land Transportation and Phoenix Transit and Logistics will specifically be incorporated into the Evans Network, CEO Evans explained that since only certain assets of the company were acquired, Land Transportation and Phoenix Transit and Logistics will operate under the Evans Delivery Company division and each company will maintain its name.
And through these acquisitions, roughly 250 drivers will become part of the Evans Network, with the independent contractors' power equipment from both companies becoming part of the Evans' SmartWay Green Fleet and eligible for the filter retrofits and tractor upgrades.
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