TIP ups investment in TruckersB2B

Jan. 10, 2002
Transport International Pool (TIP), a trailer leasing subsidiary of GE Capital Co. based in Devon, PA, has acquired an additional 5% stake in Internet venture TruckersB2B through a share purchase arrangement with Comdata Corp. of Nashville. The acquisition increases TIP's total holdings in TruckersB2B to approximately 10%. TruckersB2B is an electronic commerce company that provides pre-negotiated
Transport International Pool (TIP), a trailer leasing subsidiary of GE Capital Co. based in Devon, PA, has acquired an additional 5% stake in Internet venture TruckersB2B through a share purchase arrangement with Comdata Corp. of Nashville. The acquisition increases TIP's total holdings in TruckersB2B to approximately 10%.

TruckersB2B is an electronic commerce company that provides pre-negotiated savings on fuel, tires, equipment and other products and services purchased by small and medium-sized trucking companies and private fleets. TruckersB2B, owned by Indianapolis-based truckload conglomerate Celadon Group, aggregates the volume purchasing capability of its fleet members to achieve a lower cost of goods and services than could usually be obtained by its members individually.

Celadon, in turn, has also increased its direct holdings in Truckers B2B by 1% through a similar share purchase arrangement with Comdata. Comdata will retain a minority ownership position in TruckersB2B. Celadon Group's subsidiary, Celadon E-Commerce, is the majority owner of TruckersB2B

About the Author

Sean Kilcarr | Editor in Chief

Sean previously reported and commented on trends affecting the many different strata of the trucking industry. Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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