Third party logistics provider (3PL) TA Services said Monday it had acquired “certain assets” of the Carmel, Indiana-based freight brokerage Top Gun Freight in a move intended to continue TA’s growth through a series of recent acquisitions.
Terms of the deal were not disclosed, but the firms said that after it closes, Top Gun’s owner and president, Thomas Hosack, will join Mansfield, Texas-based TA Services as vice president of business development.
The latest acquisition follows TA Services’ February merger with Sellers Logistics LLC, an Alabama-based provider of managed transportation, technology, and related supply chain solutions. At the time, TA said that deal expands its capabilities as a “top tier logistics player” in North America, following another recent deal, its 2019 acquisition of certain assets from Celadon Logistics. Celadon Logistics was the non-asset based brokerage and 3PL division of Celadon Group Inc., the troubled Indianapolis truckload freight provider that declared bankruptcy in 2019 after an accounting fraud scheme.
Together, TA Services’ recent maneuvers combine to create annual revenues exceeding $300 million, generated by a wide range of services including multi-modal transportation brokerage, managed transportation, warehousing and distribution, and cross-border logistics services, the company said.
TA Services is itself a division of Birmingham, Alabama-based PS Logistics LLC, which operates over 2,000 flatbed assets, vans, step decks/RGN's, a brokerage division, transportation management and 3PL, and dedicated fleet operations. PS has also been on the acquisition trail, buying up a string of targets since 2018 including Diamond State Trucking Inc., Riechmann Transport, Robinette Trucking Inc., D. Mosley Trucking Inc., and Shelton Trucking Services Inc.
EXHIBIT 1: Market forecast for industrial robots - revenuesInteract Analysis
