OHL logistics has announced that it has acquired the operating assets of Turbo Logistics, Inc, the freight brokerage division Coburn Hess Logistics, LLC (OHL). The cash purchase price of $ 50 million, excluding the working capital adjustments ohl logistics, without the assumption of debt. It is expected that the acquisition strengthened immediately.
Founded in 1984, Turbo Logistics serves more than 600 customers in four locations: Gainesville, Georgia, in Reno, Nevada, Chicago, Illinois, and Dallas, Texas. The company had 170 employees and end of 12 months of income over $ 124 million at September 30, 2012. Bradley Jacobs, chairman and CEO of XP Logistics, said: ohl logistics Turbo Logistics is a well managed, highly scalable brokerage firm that has gained 28 years of respect in the industry have a strong support network and deep relationships in commerce. retail, manufacturing and food and beverage.
Ohl logistics accelerate activity Turbo has synergies with our division acceleration express 1, and on the side of the truck, who have now acquired a significant market position load -controlled environment. We are very pleased that David Coke and Jeff battle settles into leadership positions. Their combined 33 years of experience will help us climb Turbo in ohl logistics Gainesville, the largest location , and Reno. Chicago is our plan to merge with one of our cold starts the strongest growth, led by Abating Amid.
We will do the same in Dallas, where we have a cold start operated by Doug George gains traction. Effectively create large platforms, combined can climb dramatically in these ohl logistics two metropolitan areas, Jacobs continued: We are on the road or in front of each important component of our growth strategy, acquisitions, new ventures.
Winter and optimization of our operations with the acquisition of Turbo, we are fast approaching the $ 500 fee income 000 000, ohl logistics we headed for the end of the year About XP Logistics, Inc. XP XP Logistics, Inc. (XP) is one of the fastest growing providers of non. asset based, third party transportation service goods in North America the company uses its network of more than 20,000 relationships with ground, sea and air the carriers to find the best ohl logistics transportation solutions for its customers.
PO Logistics offers its services through three distinct business units. freight brokerage, expedited transportation (Express -1, Inc.) and freight (Logistics Concert Group, Inc.) serves ohl logistics more than 7,500 customers in the retail, trade, manufacturing and industry across 56 locations, including 33 branches in the United States and Canada and 23 agent offices.
