PAM Transport recently brokered a deal to acquire Metropolitan Trucking for $79.8 million through its Met Express subsidiary
Family-owned and operated Metropolitan Trucking reportedly generated more than $80 million in revenue and another $13.5 million in operating income over 12 months. The organization was founded in 1930 by Nicholas Mangino, initially hauling coal from Pennsylvania to New York. Today, the company is run by grandson Joseph Mangino Jr, who grew up in the family business. Although its trucking history will change, PAM remains an iconic and reliable brand.
“For 90 years, Metro has provided superior service for customers, a great home for our employees, and a source of pride for my family. To ensure our future was secured for the long term, my goal was to find a partner with similar values, strong financial performance, and a desire to invest for growth,” Mangino reportedly stated. “PAM truly cared about our drivers and other employees, and their resources will provide more opportunity for our people and more capacity for our customers.”
Metropolitan reportedly possesses a fleet of 320 tractors and 1,060 trailers headquartered just outside New York City, with operational facilities in Bloomsburg, Pennsylvania. Based in Tontitown, Arkansas, the acquisition is a rare move by PAM that generated $641.3 million in revenue and more than $100 million in operating income.
“We are proud at PAM to announce this acquisition, our first in nearly 20 years. We are excited to add the Metro drivers, talented office and shop team, customers, and brand to the PAM family. Metropolitan has been operating for almost 90 years as a successful family-run business,” PAM CEO Joe Vitiritto said. “We plan to run it as a separate business, which will allow the experienced management team, drivers, and employees to continue to provide the same high level of service and attention that their customers have come to expect.”
Telecom Transport President Named To Women’s Business Enterprise Council South
The president and owner of Telecom Transportation Services was recently named to the Board of Directors of Women’s Business Enterprise Council South (WBEC South). Sue Cole Watkins operates the Birmingham, Alabama, outfit that provides niche transportation and commercial storage services throughout the Southeast.
“We are thrilled to welcome Sue to the Board and look forward to her contributions as we continue to provide women with information, tools, and resources to create, sustain and grow their business ventures,” WBEC South CEO Phala K. Mire reportedly said.
Watkins has reportedly worked in the trucking sector for almost three decades. She took over the trucking company her grandfather founded before passing it to her father. Since taking the helm, Watkins has invigorated the operation with innovation, adaptive tools, and built on the brand’s well-known agility. The accelerated growth and specialization have attracted customers that include AT&T, Home Depot, KGPCo, Battery Solutions, General Electric, and Alpine Power Systems, among others.
The mission of the Women’s Business Enterprise Council South (WBEC South) is to further business opportunities and networking between companies and women-owned operations.
Sources: freightwaves.com, ccjdigital.com, mtrk.com, prnewswire.com
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