Same-day delivery company Priority Courier Experts (PCE) announced Tuesday it has acquired Now Courier.
Indianapolis-based Now Courier is a 38-year-old parcel and local delivery company serving the Midwest out of seven locations. It executes 4 million deliveries annually with a network of 250 drivers.
“I am excited for me and my team at NOW Courier to join forces with PCE and help bring new capabilities and solutions to the Indianapolis market,” stated Ryan Schwalbach, president of Now Courier, in a news release.
Financial terms of the transaction were not provided. The deal marked the second add-on investment in PCE by its private equity backers, Trident and Bluejay Capital Partners.
“This acquisition illustrates our vision of creating a robust network of expedited freight partners that deliver exceptional service and innovative solutions,” said PCE CEO Mark Cossack.
Based in the Minneapolis-St. Paul area, PCE is an expedited B2B courier serving the upper Midwest. It specializes in medical deliveries of specimens, blood products, pharmaceuticals and equipment with its fleet of trucks and parcel delivery vans.
PCE has 207 power units registered, according to the Federal Motor Carrier Safety Administration.
The deal expands PCE’s expedited transportation footprint throughout Indiana and surrounding areas.
“We are thrilled to execute our organic growth strategy for Priority Courier Experts by expanding into other dynamic markets with strong incumbent partners,” said Garrett Anacker, vice president at Bluejay Capital. “In addition to supporting the PCE and NOW teams, we are actively looking towards additional market expansion opportunities in the near future.”