New truckload carrier Ascend announced Tuesday that it is expanding its company’s footprint with the acquisition of Dedicated Transportation Solutions.
The acquisition of DTS, headquartered in Greenville, South Carolina, which had 123 drivers and 151 power units, brings Atlanta-based Ascend’s dry van fleet to more than 1,000 tractors, 3,000 trailers and a mix of more than 1,320 company drivers and independent contractors.
Financial terms of the transaction were not disclosed.
“Bringing DTS into the Ascend family continues our mission to transform the regional truckload sector by leveraging technology, building density and offering driver-friendly routes and policies,” said Ascend CEO Michael McLary in a statement.
McLary, a 30-year freight transportation industry veteran at companies such as UPS and Amazon, said the addition of DTS will strengthen Ascend’s coverage of the Carolinas, Georgia, Florida, Louisiana, Texas and Ohio.
DTS, a dedicated contract carrier, was founded in 2004 to allow shippers to outsource fleet operations.
“Given the challenging nature and headwinds of the supply chain for shippers, by joining Ascend, DTS’ customers will enjoy the expanded capacity and capabilities of the combined company,” Scott Stowers, president and founder of DTS, said in the release.
Over the past 18 years, DTS has grown from one location in Greenville to 24 locations.
Ascend also has a truckload brokerage services unit to provide expanded capacity and offers specialized options for its customers such as temperature-controlled and flatbed trailers.
Ascend was formed by the merger of Milan Supply Chain Solutions of Jackson, Tennessee, and Pontotoc, Mississippi-based J&B Services, a regional transportation and logistics provider and is backed by private equity firm Wellspring Capital Management Group, headquartered in New York.
“The company continues to build a robust and reliable network with the assets to support planned and unplanned customer needs in the South, Midwest and mid-Atlantic regions,” Ascend said.
Click for more articles by Clarissa Hawes.
See other articles:
New truckload carrier aims to serve e-commerce and the middle mile
Exclusive: Christenson Transportation acquires family-owned Sharp
Central Freight aftermath: Paycheck concerns, benefit worries, unsafe work conditions