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.
CRST acquires STI
Key Takeaways:
- CRST International acquired Specialized Transportation, Inc. (STI).
- Financial details of the acquisition were not disclosed.
- STI brings 250 employees, 500 owner-operators, and a network of 150 agents to CRST.
- The acquisition significantly increases CRST's revenue and expands its service offerings and geographic reach.
Key takeaways sponsored by SONAR
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