A group of senior executives at Burlington Motor Carriers, Daleville, Ind., plan to make a bid to buy the company.
Thomas F. Grojean, chairman and CEO, and Terry A. Wallace, president and chief operating officer, made the announcement last week.
"We feel the opportunity to acquire a sound operating business with a healthier balance sheet, a roster of great customers, and a dedicated, hard-working team of associates is a worthy investment of time and capital," said Grojean. "We have already begun discussions with potential equity partners to invest alongside the management team and we have procured the services of Mr. Thomas Eckerle from the firm of Henderson, Daily, Withrow & DeVoe in Indianapolis to provide legal counsel through this process."
Burlington Motor Carriers operates nearly 2000 power units and 5000 trailers throughout North America. The company was ranked #18 in revenues among the top 20 largest truckload van carriers in the United States in 2000. At the time it filed for protection under the U.S. Bankruptcy Code in July 2001, the company's operating performance placed it at the midpoint of publicly traded truckload carriers.
Thomas F. Grojean, chairman and CEO, and Terry A. Wallace, president and chief operating officer, made the announcement last week.
"We feel the opportunity to acquire a sound operating business with a healthier balance sheet, a roster of great customers, and a dedicated, hard-working team of associates is a worthy investment of time and capital," said Grojean. "We have already begun discussions with potential equity partners to invest alongside the management team and we have procured the services of Mr. Thomas Eckerle from the firm of Henderson, Daily, Withrow & DeVoe in Indianapolis to provide legal counsel through this process."
Burlington Motor Carriers operates nearly 2000 power units and 5000 trailers throughout North America. The company was ranked #18 in revenues among the top 20 largest truckload van carriers in the United States in 2000. At the time it filed for protection under the U.S. Bankruptcy Code in July 2001, the company's operating performance placed it at the midpoint of publicly traded truckload carriers.
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