based in McAllen, Texas.
The deal is expected to help increase Celadon's density in its primary traffic lanes between the U.S. and Mexico and reinforce its driver pool.
USA Dry Van is a significant provider of cross-border shipments of goods between Mexico and the United States, which enables Celadon to fulfill one of its primary goals of increasing its freight volumes and lane density in its primary freight lanes.
"Their footprint has tremendous potential to supplement the existing cross-border expertise for which Celadon is known and further accelerates our overall growth plans," explains Paul Will, Celadon president and COO. "Our companies also share a very similar, overlapping customer account base.
"As we have stated with previous acquisitions, we expect to assimilate many of these customers, as well as a portion of the USA Dry Van driver pool, within our operations efficiently and further improve asset productivity."
This is the third acquisition that CGI has made in the last six months. Transportation analysts at Sterne Agee said in an investor newsletter that this "acquisitive phase has created one of the youngest fleets in the industry, positioning them well for growth. These characteristics should benefit the company in attracting and retaining drivers, limiting maintenance costs and increasing efficiencies."
6/11/2012 - Celadon Acquires Equipment Assets from Hiner Transport
3/1/2012 - Celadon Buys Teton Transportation Assets