Celadon Acquires Equipment Assets from Hiner Transport
June 8, 2012
Celadon Trucking Services, Indianapolis, has agreed to purchase a portion of the operating equipment of Hiner Transport LLC, Huntington, Ind.
The terms and conditions of the transaction were not disclosed.
The transaction is the fourth acquisition for Celadon since last October.
"As with previous acquisitions, the Hiner deal provides quality customer gains, incremental density in key traffic lanes, and access to an experienced driver pool", says Paul Will, president and COO.
"Hiner had a solid, core group of customers and drivers, and we expect to fully integrate these groups within our operations in a prompt, efficient manner," Will said.
Hiner Transport, founded in 1967 by Homer F. Hiner, operates about 200 tractors in regional and long-haul service, according to the company's website.
Acquisitions over the past year increased Celadon's seated tractor count by 218, or 8.3%, the company said in its latest quarterly earnings statement.