Celadon Trucking Services, Inc., a wholly-owned subsidiary of Celadon Group, Inc. (NYSE: CGI) announced today that it has agreed to acquire Rock Leasing, Inc., based in Warren, IN, and Kelly Logistics, Inc., based in Wadley, AL. The terms and conditions of the transactions were not disclosed. With these acquisitions, Celadon will further expand its breadth of service, now to include temperature control service, as well as an increased number of customer spotting locations and increased multi-tenant warehouse space, in addition to its dry van, intermodal, regional and local coverage.
In addition to its dry van business, Rock Leasing is a provider of temperature controlled shipments in and out of the Midwest, which enables Celadon to enter this service category well within many of its primary freight lanes. Kelly Logistics provides dedicated equipment spotting and shuttle services to customers at multiple locations in the Southeast. Celadon will be maintaining the Rock Leasing facility in Warren, IN, which includes two warehouses on approximately 20 acres and approximately 150,000 square feet of warehouse space. In addition, both Robert Seabolt from Rock Leasing and Guy Kelly from Kelly Logistics will remain with Celadon for a period of time to help ensure an orderly transition.
“We believe that both Rock Leasing and Kelly Logistics offer solid potential to supplement our existing business and further advance our overall growth plans by accelerating Celadon’s entry into the refrigerated van and equipment spotting service areas,” stated Paul Will, President and CEO, Celadon Trucking. “We look forward to continuing to service their key account bases and providing the quality service that they have come to expect. Based on previous acquisitions, we believe we can actually enhance that service through upgraded equipment, advanced technology, additional assets available for dispatch, and an industry leading safety record."
Celadon Group, Inc. ( www.celadongroup.com ), through its subsidiaries, provides long-haul and regional full-truckload freight service across the United States, Canada and Mexico. The company also owns Celadon Logistics Services, which provides freight brokerage services, less-than-truckload services, as well as supply chain management solutions, including warehousing and dedicated fleet services.
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