NAPA Transportation, a provider of food and consumer goods throughout the northeastern United States, has acquired the rolling stock and certain other assets of Payne Trucking, a dry van truckload carrier providing service primarily in the eastern United States as well as brokerage services. Transport Capital Partners, LLC (TCP) helped the companies craft the agreement and announced the deal. “We are pleased to bring these two organizations together,” said Lana Batts, managing partner of TCP.
NAPA presently operates a fleet of 235 tractors and 535 trailers. “This new terminal location supports our desired network concentration in the middle Atlantic and Northeast corridors,” noted Ron Accomando, CEO of NAPA. “With terminals located on both 81 and 95 in Virginia, this acquisition strengthens our presence while enabling the business to increase its efficiency, expand its customer base and add new services.”
“NAPA and Payne are solid providers of dry van transportation services in the northeast with strong management teams,” added Steven Dutro, managing partner of TCP. “The special advantages each brings will build upon NAPA’s future success.”
Payne Trucking currently operates 80 tractors and approximately 176 trailers. Danny Payne, the owner of Payne Trucking, will continue to operate his bulk commodities, semi-trailer dump truck business under the name of Payne Trucking.