United Road Services and its owner, Charlesbank Capital Partners, have purchased the Auto Transport Division of Waggoners Trucking.
The acquisition will nearly double United Road's capacity to serve its more than 10,000 customers and makes the company the second-largest car-hauler in North America, according to a release.
Headquartered in Romulus, Mich., United Road Services serves a range of customers, including OEM suppliers, rental agencies, dealers, auctions, web-based logistics firms and individuals, among others. The newly expanded United Road will operate out of over 75 locations throughout the US and Canada and is projected to move more than 2.5 million new, used and specialty vehicles in 2014.
"The companies' geographic territories are extremely complementary," says Kathleen McCann, president of United Road. "United Road will be much stronger in the southeast and south central U.S. going forward. When integrated, we will also have a national network of nearly 20 company-owned maintenance facilities that will further support our goals of on-time vehicle delivery and driver safety. Importantly, United Road's patented and proprietary logistics platform will enhance the combined operation."
Waggoners, headquartered in Billings, Mont., and Irving, Texas, was founded in 1951. The Auto Transport Division, established in 1987, focuses on the transportation of new cars. United Road's technology platform and national sales center will complement Waggoners new car customer base by filling empty backhaul miles with remarketed volumes.
United Road is owned by the private equity firm Charlesbank Capital Partners, based in Boston, Mass, which acquired United Road in 2012. Financial details regarding the transaction were not disclosed.