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PS Logistics adds refrigerated assets in latest deal

Picks up 50 tractors, 55 drivers from Colonial Freight Systems and Phoenix Leasing of Tennessee

The deal marks PS Logistics' 27th in the last 15 years. (Photo: Jim Allen/FreightWaves)

PS Logistics announced that subsidiary Purdy Brothers Trucking has acquired certain assets from Phoenix Leasing of Tennessee Inc. The deal also included the acquisition of drivers from Phoenix sister company Colonial Freight Systems Inc.

The addition of 55 lease purchase drivers and 50 tractors will bolster Birmingham, Alabama-based PS Logistics’ temperature-controlled presence in the Southeast. Purdy Brothers is an asset-light refrigerated carrier based in Loudon, Tennessee, operating 144 power units according to the Federal Motor Carrier Safety Administration database. Knoxville, Tennessee-based Colonial Freight Systems is listed as having 250 power units.

Financial terms of the transaction were not disclosed.

“We are proud to welcome the Colonial drivers to the PS Logistics family,” Doug Surrett, Purdy Brothers president, stated in a news release. “We look forward to working with these great drivers to continue their best-in-class customer service.”

The transaction is the latest for PS Logistics, which continues to roll up family-owned flatbed, refrigerated and logistics assets. The company has acquired 27 trucking and brokerage operations over the last 15 years.

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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.