Transportation and Logistics Systems Inc. (TLSS), will acquire GRC Trucking, Inc. (GRC), the company said today. The deal is expected to close March 31 and the purchase price will be paid via TLSS common stock, the company also said.
Florida-based TLSS is a logistics and transportation company specializing in e-commerce fulfillment, last mile-delivery, two-person home delivery, and line-haul services for online retailers through its subsidiaries PrimeEFS, LLC and ShypDirect, LLC. New Jersey-based GRC specializes in import/export ocean and rail intermodal and drayage shipping. GRC is a strategic fit, TLSS leaders said, pointing to its geographic proximity to both the PrimeEFS and ShypDirect New Jersey hub, which will improve asset utilization, reduce fuel and facility costs, and help reduce other expenses.
"We are very excited about the prospect of joining forces with the GRC team, a company with a successful 30-year track record in the industry," John Mercadante, TLSS president, said in a statement announcing the acquisition. "GRC is expected to add another exciting dimension to our growing business, providing revenue enhancement, diversification and multiple opportunities for growth."