INDIANAPOLIS — Celadon Trucking Services Inc. has purchased a significant portion of the operating equipment of Teton Transportation Inc., based in Knoxville, Tenn, Celadon Group Inc. said Wednesday. The deal includes the purchase of approximately 180 tractors and 280 trailers for an undisclosed figure. Teton drivers will be asked to join Celadon.
“As with previous acquisitions, our goals are to continue to broaden our customer base with quality customers, add density in our primary traffic lanes, and gain experienced drivers,” said President and COO Paul Will. “Based on our evaluation of the business, we believe Teton had a solid, core group of quality customers and drivers. We expect to integrate and optimize these customers and drivers within our operations promptly and further improve asset productivity. We believe we can enhance the service to Teton’s former customers through an upgraded equipment fleet, excellent technology, more available assets for dispatch, and an outstanding safety record.”
The company expects to see increased earnings from the acquired operations beginning in the June 2012 quarter, Will said.
Celadon Group Inc., through its subsidiaries, provides long-haul and regional full-truckload freight service across the United States, Canada and Mexico. The company also owns Celadon Logistics Services, which provides freight brokerage services, less-than-truckload services, as well as supply chain management solutions, including warehousing and dedicated fleet services.
Kevin Jones of The Trucker staff can be reached for comment at firstname.lastname@example.org.
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