In 1995, Glenn Kavanagh and Lisa McConnell sold their third-party logistics firm to Georgia-based truckload carrier Trism Inc. Now, as Trism seeks to sell off subsidiaries in an attempt to return to profitability, they are buying it back.
The original company Kavanagh and McConnell founded in 1982 was named Kavanagh & Associates Inc. It specialized in handling transportation management for over-dimensional freight across all modes.
After buying their former company back, the pair renamed it named Kavanagh Logistics Inc., and seek to stay in the over-dimensional freight business. “Although the marriage with Trism did not work out like we had hoped, we learned a great deal from the experience,” said Kavanagh.
Trism began exiting the general freight and hazardous waste markets in July, as those two areas of service have caused the company to be unprofitable over the last two years. Trism has said it plans to concentrate on its profitable businesses segments in heavy haul, government munitions, commercial explosives, and radioactive waste.
The company began reducing operating costs last month by selling excess trailers, closing several terminal facilities and the eliminating non-driver personnel. It also shut down its Specialized Division in August.