Third-party logistics provider (3PL) NFI Industries has acquired G&P Trucking Company, Inc., a Columbia, South Carolina-based logistics provider specializing in asset-based transportation, port drayage, and non-asset brokerage solutions, in a deal expected to strengthen NFI's Southeast footprint, the company said today.
Terms of the deal were not disclosed.
News of the buyout comes as a spate of trucking fleets have gone out of business or sold off their assets due to turbulent market conditions. Recent examples include the failures of Celadon Group Inc. and Roadrunner Transportation Systems Inc.
Overall, G&P's asset-based transportation solutions include dedicated, regional, long haul, and Mexico border crossing. With G&P's 370 tractors and 3,000 trailers, NFI's asset-based transportation fleet, predominantly providing dedicated contract carriage solutions, will grow to more than 3,000 tractors and 12,500 trailers. With the addition of G&P, NFI's asset-based fleet will be operated by 2,700 company drivers and utilize the services of 400 owner operators.
More specifically, G&P operations at the ports of Savannah, Norfolk, and Charleston will expand NFI's drayage presence in those ports. With the addition of G&P's 120 owner operator partnerships, NFI's drayage fleet will grow to more than 1,500 tractors.
NFI's drayage presence spans major ports, terminals, and logistics hubs across the U.S., offering supply chain solutions including transloading, consolidation, deconsolidation, and customs exams. The acquisition will also enhance NFI's brokerage service offerings. Finally, the move will also boost NFI's expertise in diverse industries such as automotive, tires, retail, and textiles, the company said.
"Unifying the talents of both NFI and G&P teams, we are excited to bring even greater value to our customers through our robust suite of solutions. Together, our combined footprint will distinguish us as one of the largest dedicated transportation providers in North America," NFI CEO Sid Brown said in a release.