UHC to add 2 transportation companies based in Boise ID
Next10 Inc, which does business as Ultimate Holdings Corporation (UHC), says it plans to acquire Ultimate Logistics and Ultimate Innovations.
The transaction is expected to occur on or about Aug 1, the company said.
Following the deal’s consummation, the two privately held Boise ID transportation companies specializing in freight hauling-related activities will become wholly owned subsidiaries of Ultimate Holdings.
As part of this purchase, UHC will acquire approximately 80 newer-model semi-tractors and 85 newer-model 53-foot refrigerated trailers.
Ultimate Logistics and Ultimate Innovations had a combined gross revenue of more than $17.5 million for 2019, UHC said. Despite the uncertainties caused by COVID-19, both companies have remained profitable during 2020.
The existing management and teams for the newly acquired companies will remain on board.
“The trucking industry has experienced challenges in being able to hire new drivers and retain drivers,” Ultimate Logistics and Ultimate Innovations management said. “We do not have that challenge. We have proudly invested in our drivers, carriers and infrastructure to profitably build our businesses.
“We are excited that UHC supports our unique, one-of-a-kind approach.”
Ultimate’s Lease-To-Own Program, along with the fact the two companies are somewhat recession proof (since the majority of the loads hauled by Ultimate are refrigerated or frozen food products) will pave the way for many years of continued growth and success, UHC concluded.
