Transportation and logistics company Ruan has acquired National Truck Brokers, Inc. (NTB), a dedicated carrier based in Grand Rapids, Mich., the companies said today. Terms of the deal were not disclosed.
The acquisition joins two long-time family-owned businesses. NTB was founded in 1974 by Dan Koster and has grown to include a fleet of more than 235 trucks hauling for grocery customers in Michigan, Indiana, Illinois, Iowa, Ohio, Kentucky, and Wisconsin. Ruan is an Iowa-based, third-generation, family-run business that employs 5,000 people in more than 300 operations nationwide. NTB will operate as a separate, independent member of the Ruan family of companies, maintaining its name and brand, leadership structure, and facility locations, according to Ruan.
“Growth through acquisition has been relatively uncommon at Ruan, but we have done so selectively when there’s a true, strategic fit and the opportunity to sustain and strengthen relationships with important customers. We’ve found these positive elements at NTB,” Ruan’s Chief Executive Officer Ben McLean, said in a press release.
Over the next several months, NTB’s entire fleet of trucks will be replaced by late-model Freightliner units as an enhancement for NTB’s driving team members, according to the press release.