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E-commerce fulfillment outfit TLSS to acquire Cougar Express

Deal combining last-mile delivery companies expected to close by mid-January

TLSS enters agreement to acquire Cougar Express (Photo: Jim Allen/FreightWaves)

E-commerce fulfillment provider Transportation and Logistics Systems (TLSS) (OTC: TLSS) announced plans to acquire logistics provider Cougar Express.

Cougar Express provides pickup, delivery and warehouse services through its facility in Valley Stream, New York. The company offers one- to four-person white-glove delivery service primarily in New York and New Jersey.

“We are very excited about the prospect of joining forces with the Cougar Express team, a profitable, family-run business with a successful 30-year history, diversified and loyal customer base and stellar reputation,” stated TLSS CEO John Mercadante in a press release. “We believe that this is an ideal complement to our current business and provides opportunity for organic expansion.”

The transaction is expected to close no later than Jan. 15, following satisfactory due diligence and TLSS obtaining deal financing.

Financial terms were not disclosed.

Jupiter, Florida-based TLSS provides logistics and transportation services through its two subsidiaries, Prime EFS and ShypDirect. Prime EFS is a provider of two-person last-mile home delivery and linehaul transportation for large retailers. ShypDirect offers delivery services with a fleet of tractors, box trucks and cargo vans throughout the Northeast.

“We were very impressed with TLSS’ executive and operational management team, as well as its future growth plans. A key factor was knowing that our valued customers and dedicated employees will be in excellent hands,” said Cougar Express President Rosemary Cerrito.

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Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.