Total Transportation Services Inc. (TTSI) is expanding into the Pacific Northwest market with the acquisition of a transloading and warehousing company based in Washington state.
TTSI, which provides drayage and over-the-road trucking services, acquired privately held Tri Pak, based in Tacoma. Terms of the deal were not disclosed.
Tri Pak offers transloading, warehousing, drayage, long-haul and brokerage trucking services. Tri Pak has five facilities in Tacoma and one in Seattle, with 300,000 square feet of warehouse space and 50 acres of outside storage. Tri Pak also offers transloading to railcars and drayage at the ports of Seattle and Tacoma.
Rancho Dominguez, California-based TTSI said Tri Pak is well-positioned to service customers “in one of the most important logistics markets in North America.”
TTSI Chief Executive Officer Vic La Rosa said the acquisition of Tri Pak increases the company’s warehousing and logistics footprint by 25 percent while adding another 20 power units to its fleet of 228 trucks.
He said the Tri Pak acquisition add clients in agricultural products and building materials to TTSI’s portfolio of customers in retail and consumer goods.
“The people we purchased Tri Pak from have been running it for 20 years and have built up a very strong operation and account base, so we are very pleased with the acquisition,” La Rosa said. “It gave us the ability to diversify our client base, and also works well with our current client base that has service requirements in that part of the country.”
He said the company remains in acquisition mode with several other deals in the works.
“We are looking at expanding further to the East Coast ports and we are also looking to the Midwest to expand our intermodal footprint,” La Rosa added.
RJM & Co. served as financial advisor and Eisenhower Carlson as legal advisor to Tri Pak. TTSI was assisted by its equity partner, Afamia Financial, and legal advisor DLA Piper.
