WORLDPOINT LOGISTICS ACQUIRES EXPEDITED
Seattle-based logistics holding company WorldPoint Logistics has
acquires the assets and business of Corporate Express Delivery Systems – Expedited Inc.
Terms of the deal were not disclosed.
"We targeted Expedited because it serves a unique niche and
network in the rapidly growing and expanding time-definite air-ground service
segment," said Jack Edwards, president and chief executive officer of WorldPoint.
Expedited, with annual sales of about $75 million, provides expedited
air-ground linehaul, manufacturing support, on-demand transportation and pickup and
delivery service. The company has 36 service centers throughout the central and
southeastern United States. It uses a mixture of owned and leased trucks, trailers and
vans, as well as owner-operators.
Expedited serves domestic and international forwarders, airlines,
integrators and shippers.
It is the fourth acquisition for WorldPoint and equity capital partner
Brentwood Associates since WorldPoint was formed in October 1998. Previous acquisitions
were U.S. Shippers, an Edmonds, Wash.-based intermodal marketing/truck brokerage company;
Alpha International and Valley Stream, N.Y.-based broker and forwarder; and President
Container Lines Ltd., an Elizabeth, N.J.-based ocean forwarder.
WORLDPOINT LOGISTICS ACQUIRES EXPEDITED
WORDPOINT LOGISTICS ACQUIRES EXPEDITED
