Subscribe to our free, weekly email newsletter!


NAPA Transportation buys Payne Trucking

By Jeff Berman, Group News Editor
January 26, 2011

In a harbinger of perhaps more mergers and acquisitions within the trucking industry, NAPA Transportation, Mechanicsburg, Pa., has acquired certain assets of the dry van and brokerage divisions of Payne Trucking, Fredericksburg, Va.
 
Terms of the deal were not disclosed. The acquisition was assisted by Transport Capital Partners, LLC, a leader in transportation mergers, acquisitions, capital sourcing, and consulting.
 
During the recession and trucking industry slump from 2007-2010, there were very few mergers and acquisitions within the industry as most executives reserved their capital for operations. Now that the overall trucking market has improved, analysts and executives say privately they expect more deals like the NAPA-Payne acquisition.
 
Payne Trucking is a dry van truckload carrier that provides medium length of haul and dry van service primarily in the eastern United States. It also provides brokerage services.  The company currently operates 80 tractors and approximately 176 trailers. Danny Payne, the owner of Payne Trucking, will continue to operate his bulk commodities semi-trailer dump truck business under the name of Payne Trucking.
 
NAPA Transportation is a leading provider of food and consumer goods throughout the northeastern United Sates with a fleet of 235 tractors and 535 trailers.
 
“This new terminal location supports our desired network concentration in the middle Atlantic and Northeast corridors,” said Ron Accomando, NAPA CEO. “We are pleased to bring these two organizations together With terminals located on both 81 and 95 in Virginia, this acquisition strengthens our
presence while enabling the business to increase its efficiency, expand its customer base, and add new services.”
 
Lana Batts, managing partner of Transport Capital Partners, called NAPA and Payne “solid providers” of dry van transportation services in the northeast with strong management teams. 
 
“The special advantages each brings will build upon NAPA’s future success,” noted Steven Dutro, Managing Partner of TCP

About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Working with research partner, The Economist Intelligence Unit, the IBM Institute for Business Value surveyed 1,023 global procurement executives from 41 countries in North America, Europe and Asia.

U.S. Carloads were down 7.8 percent annually at 259,544, and intermodal volume was off 15.7 percent for the week ending February 21 at 213,617 containers and trailers.

The Department of Transportation’s Bureau of Transportation Logistics (BTS) reported this week that U.S. trade with its North America Free Trade Agreement partners Canada and Mexico in December 2014 was up 5.4 percent annually at $95.8 billion. This marks the 11th straight month of annual increases, according to BTS officials.

While the volume decline was steep, there was numerous reasons behind it, including terminal congestion, protracted contract negotiations between the Pacific Maritime Association and the International Longshore and Warehouse Union, and other supply chain-related issues, according to POLA officials.

Truckload rates for the month of January, which measures truckload linehaul rates paid during the month, saw a 7.9 percent annual hike, and intermodal rates dropped 0.3 percent compared to January 2014, which the report pointed out marks the first annual intermodal pricing decline since December 2013.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA