DHE buys Matheson Fast Freight
DHE-Dependable Highway Express, based in Los Angeles, has acquired less-than-truckload carrier Matheson Fast Freight, also of Southern California.
Terms of the deal were not disclosed. However, Ron Massman, chief executive officer of the Dependable Cos., parent of DHE and subsidiaries involved in non-vessel-operating common carrier and warehousing activities, said the acquisition of Matheson is 'an important step forward in our company's planned program of growth.'
Massman also said the timing was right for the acquisition. 'Latest figures indicate that trucking volume is up about 20 percent from its low toward the end of last year. DHE expects to capitalize on this renewed growth,' he said.
Matheson operates a number of California facilities, ranging from Chino in the north and San Diego in the south. In Nevada, the company has facilities in Las Vegas and Sparks. Matheson also operates a fleet of 172 tractors and 425 trailers with a work force of 392.
'Where the two company terminals operate in the same city, the Matheson facility will be folded into Dependable Highway Express. Where DHE has no facilities, the Matheson terminal will become part of the DHE network,' Massman explained.
