CRST acquires STI
CRST International has acquired trucking industry logistics services provider Specialized Transportation, Inc.
The privately held companies did not disclose terms of the deal.
STI, a former division of North American Van Lines, is based in Ft. Wayne, Ind., and has 250 employees, 500 owner-operators and works through a network of 150 agents in the United States and Canada.
'With this acquisition, CRST International projected annual revenue will be in excess of $1.3 billion and will make CRST one of the largest and most diversified transportation companies in the United States,' said Dave Rusch, CRST president and chief executive officer, in a statement. 'It supplements our current business of expedited van, flatbed, dedicated fleet and transportation management services by giving us access to a new network of agents and 45 distribution centers in key metropolitan areas in North America.'
Cedar Rapids, Iowa-based CRST is one of the largest U.S. specialized trucking companies. It employs more than 4,400 drivers and office personnel, and an additional 2,500 independent contractors across the country.