P.A.M. Transportation Services Inc., Tontitown, Arkansas, has purchased substantially all the assets of Metropolitan Trucking Inc. and related entities for a value of approximately $77.4 million. It’s the company’s first acquisition in nearly 20 years.
The approximately 320-truck dry van truckload carrier headquartered near New York City, with its primary operating and maintenance facilities in Bloomsburg, Pennsylvania, will operate as an independent business under the current senior leadership team with no personnel changes expected other than the retirement of the CEO. The buying entity was Met Express Inc., a newly formed wholly owned subsidiary of P.A.M.
“Metropolitan has been operating for almost 90 years as a successful family-run business,” said P.A.M. President Joe Vitiritto in a news release. “They have a very experienced group of drivers, longstanding customer relationships, and a culture that is very complimentary to our existing businesses.”
Metropolitan is a premier service-focused dry van truckload carrier offering transportation services from its locations in New Jersey, Pennsylvania, and Illinois. The company's primary operating territory is the eastern United States. It has a modern fleet consisting of approximately 320 trucks and 1,060 trailers. The trucks have an average age of 2.1 years, and the trailers have an average age of 6.1 years.