The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight the planned expansion of a regional parcel delivery carrier, ASG’s acquisition of Trucker Tools and more.
The High Five
1. Regional parcel delivery carrier Lone Star Overnight will expand its coverage area in early September by adding markets in Louisiana and Arkansas and launching service in Illinois, Missouri and Kansas. The announcement expands Austin, Texas-based LSO’s state footprint to 10. Mark Solomon with more
2. A suspected drug-smuggling ring allegedly used tractor-trailers with secret compartments to truck millions of dollars of cocaine, methamphetamine and marijuana from Mexico and California to Canada before authorities took it down, police said Tuesday. Nate Tabak’s story
3. ASG has acquired digital freight management platform Trucker Tools. The business sold for $65 million, according to Pitchbook data compiled from the SEC. ASG buys, builds and operates vertical software-as-a-service companies as a portfolio company of Alpine Investors. Grace Sharkey’s story
4. The owners of three purported Georgia-based trucking companies are facing wire fraud and theft of government property charges after federal prosecutors claim the couple set up shell companies to obtain $364,200 in funds through the U.S. Small Business Administration’s Paycheck Protection Program. Clarissa Hawes with more
5. FedEx Freight is walking back its recent abrupt suspension of service to a portion of its customer base after ruffling feathers of key stakeholders that made known their displeasure, according to communications from the company and logistics industry executives. Eric Kulisch’s report
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