The combined companies will have gross revenues approaching $1 billion and will manage more than 700,000 intermodal, truckload and less-than-truckload shipments annually.
Jacksonville, Fla.-based transportation services provider Sunteck will merge with Dallas, Texas-based TTS, and the merged company will operate as Sunteck TTS.
The companies said the deal will create a multimodal, agent-based freight management services provider with gross revenues approaching $1 billion. The combined companies will manage more than 700,000 intermodal, truckload and less-than-truckload shipments annually.
Ken Forster, the current chief executive officer of Sunteck, will serve as the President and CEO of SunteckTTS, while Andy Cole, the current president and chief executive officer of TTS, will serve as chairman of the board.
“This is an exciting moment as these two companies will become one and establish a powerful platform, offering expanded operations, capacity relationships and technology capabilities to our agents, carriers and customers,” Forster said. “The merger allows us to leverage best practices across our combined operations and provide optimal solutions for our agents and customers.”
The company will have more than 200 agents and will be in a better position to source more capacity through a combined network of over 30,000 carriers, the companies said.
“In addition to the strong non-asset capabilities, SunteckTTS will also have a collective 2,000 trucks in its direct asset-light capacity divisions,” the companies said. “TTS’ direct rail intermodal program, with access to more than 200,000 pieces of equipment, will be enhanced by Sunteck’s large intermodal drayage network.”
The companies said the access to capacity will become essential as future driver shortages and industry consolidation continues.
“Since our founding in 2006, TTS has been committed to the agent-centric model because we believe agents are highly motivated to discover and utilize better ways to provide unique solutions to customers,” Cole said. “For this reason, we became an Intermodal Marketing Company to give our agents a better ability to optimize shipments and move between modes dynamically. This merger with Sunteck only furthers our goals for agent success, with increased potential for expanded service offerings for our agents to utilize expanded solutions for their clients.”
Sunteck, TTS will merge
