PS Logistics said Monday its subsidiary Diamond State Trucking has acquired flatbed operator Yordy Transport.
Headquartered in Morton, Illinois, Yordy Transport was founded six years ago and has a fleet of 30 power units, according to Federal Motor Carrier Safety Administration data. It primarily moves railroad and building materials throughout the central and southeast U.S.
“This acquisition aligns nicely with our desire to partner with founder- or family-owned trucking companies that put their drivers first while also providing quality service to their customers, and PS Logistics is looking forward to the growth opportunities that will result from this acquisition,” said Scott Smith, CEO and co-founder at PS Logistics.
The deal is expected to complement Diamond States’ current footprint and provide operational synergies.
Yordy Transport’s drivers and staff will remain on board, operating under the Diamond State banner.
Financial terms of the transaction were not disclosed.
“Throughout the process of working with them, it became evident that they are committed to the drivers’ success, and I’m excited that Yordy Transport will now be a part of a larger organization that will provide greater freight choices to Yordy’s drivers and operational expertise to the business,” said Avery Yordy, founder of Yordy Transport.
Birmingham, Alabama-based PS Logistics provides asset-based transportation and nonasset offerings like brokerage, third-party logistics, managed transportation and warehousing. The company primarily acquires family-owned flatbed trucking and logistics businesses. It has executed 31 acquisitions since 2016.
