Mergers and acquisitions
US-based finished vehicle transport provider Accelerated Services has taken over Continental Transport for an undisclosed sum.
The combined entity has a fleet of approximately 216 trucks, but Accelerated Services said that number was set to grow and it intended to have 250 trucks by the end of the second quarter of this year. Each truck has a 10-vehicle capacity, with 95% of the fleet being no more than three years old.
The company said its modern fleet minimised dwell time and that its drivers were monitored for safety and compliance. Its trucks are equipped with the latest technology, including tracking systems, to ensure quality and reduce driver fatigue.
Both companies count a number of North America’s OEMs among their customers. Accelerated Services said the merger not only made sense from this perspective but also because of the shared company culture and the principles held by Tom Montgomery, owner of Accelerated Services, and Joe Haney, vice-president of operations at Continental Transport.
The acquisition of Continental was the result of an idea shared by both men. “They had a vision in mind to create a logistics provider unequalled in the industry”, said Sharmin Watson, spokesperson for Accelerated Services. “With a combined fleet of over 200 trucks and our highly experienced staff and driving teams, we bring tremendous value and years of experience to our industry.”
The company said the combination of equipment and expertise with the increase in scale and geographic reach resulting from the acquisition was expected to bring in further contracts.