Alabama-based PS Logistics and its subsidiaries continue to make significant acquisitions at a time when freight carriers’ services are at a premium.
P&S Transportation, a PS Logistics subsidiary, recently acquired JLT Services, also based in Alabama. The 32-truck outfit specializes in hauling building materials such as lumber, metal, paper products, and general freight.
“We are proud to welcome JLT to the PS Logistics family,” PS Logistics president Houston Vaughn reportedly said. “JLT brings great drivers, employees, and freight expertise to our company as well as a new key customer to PS Logistics. I am pleased PS Logistics will continue JLT’s family-oriented atmosphere and strong culture, and we look forward to providing JLT’s customers with the same service commitment.”
The acquisition comes almost directly on the heels of another aggressive growth move. DMT Trucking, another subsidiary, recently orchestrated a deal to add 108 trucks and 167 53-foot flatbed trailers to its growing ranks. The purchase of Oklahoma-based Broken Bow augments PS Logistics’ southwestern footprint and adds terminals in Nashville and Arkansas. Founded in 1978, owners Daryl and Shelly Thomason reportedly built the operation up from a single truck.
“I have known the PS Logistics team for many years, and I am happy to be partnering with them,” Daryl Thomason reportedly said. “Over the last four decades, we built a successful flatbed trucking operation serving outstanding customers with dedicated employees, and we will strive to continue that tradition with the same commitment to excellence.”
During the last seven years, PS Logistics and wide-reaching subsidiaries have brought upwards of 23 trucking, warehousing, and logistics organizations into the fold. This year alone, the corporation added six related businesses and two of them occurred during November.
The organization appears to be accelerating its expansion after Gamut Capital Management and British Columbia Investment Management Corporation poured money into PS Logistics during June 2021. The investment was reportedly spurred by rising freight profitability and PS Logistics’ ability to attract truckers based on its “driver-first” reputation.
“We are excited to partner with Scott and his seasoned management team to enhance their market-leading platform and accelerate their growth trajectory. As the leading player in the large and fragmented flatbed trucking market, PS Logistics’ dedicated drivers, expansive freight network, and young fleet are poised to continue delivering great value to both new and longstanding customers in search of comprehensive cross-country coverage and services,” Gamut Founding partner Stan Parker reportedly said. “As a long-term investor, we seek market-leading companies with a demonstrated track record of creating shareholder value, like PS Logistics.”
PS Logistics was established in 2004 and remains headquartered in Birmingham, AL. The organization ranks among the largest in its niche and one the fastest-growing operations in the U.S. of its kind. It provides full-service transportation, brokerage, warehousing, and third-party logistics, among other opportunities.
Sources: ccjdigital.com, overdriveonline.com
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