GST Corp. acquires Vexure
GST Corp., a subsidiary of NYK Logistics (Americas) has acquired Vexure, the parent of five transportation business units.
GST’s acquisition comprises all five Vexure companies: Stonier Transportation Group Inc.; Stonier Trucking Co. Inc.; TRT Carriers Inc.; Velocity 3PL Inc., and Alert Cargo Express. Terms of the sale were not disclosed.
“Vexure will remain a separate company,” said Lanny Vaughn, president and chief executive officer of GST Corp.
Vexure is expected to close 2003 with about $80 million in revenues in the $80 million range, a 25 percent increase over 2002 and double the company's 2001 revenues, the company said in a statement.
GST Corp. is based in Memphis. Vexure is based in Jacksonville, Fla.