Refrigerated carrier Purdy Brothers Trucking, a subsidiary of PS Logistics, recently strengthened its Southeast U.S. operations with the acquisition of certain transportation assets of Phoenix Leasing of Tennessee.
As part of the deal, the Loudon, Tennessee-based reefer carrier also formed an agreement with Phoenix’s sister outfit, Colonial Freight Systems, to contract with its drivers to continue serving several of its “blue-chip” cold-chain customers in the region.
Financial terms of the transaction were not disclosed.
According to reports, Colonial—which had 250 trucks and 260 owner-operator drivers prior to the transaction, according to Federal Motor Carrier Safety Administration data—is ceasing operations at the end of August.
“We are proud to welcome the Colonial drivers to the PS Logistics family,” said Doug Surrett, president of Purdy Brothers. “We look forward to working with these great drivers to continue their best-in-class customer service.”
Family-operated Colonial, based in Knoxville, was founded in 1943 by Clarence McBride.
The transaction will further strengthen PS Logistics’ reefer operations in the Southeast by adding more than 55 lease-purchase drivers and more than 50 new-model tractors to Purdy’s fleet. PS Logistics has acquired 27 trucking and brokerage operations in the last 15 years, including this year’s pickups of C2 Freight and Noble.
“The acquisition continues PS Logistics’ acquisition strategy of partnering with families and quality owners within the flatbed, refrigerated, and logistics markets,” the company said.
