XRG Inc. recently announced the completion of a transaction with Central Florida-based Chromos Inc., the parent company of trucking firms Florida Trucking Co. and Cook Transport, as well as a property broker, Value Transport Services. Terms of the agreement were not disclosed.
The Chromos entities have generated about $10 million in gross revenue over the last 12 months, according to XRG. “We are pleased to become a member of the XRG trucking family and look forward to them bringing their knowledge and processes to further develop and increase our market share,” says Steve Lusty, president of Chromos.
XRG, which provides transportation services through a network of affiliated offices located throughout the United States, is implementing expansion through non-asset terminal and brokerage agreements with existing trucking companies. “We are very excited about adding a company with the market presence and expertise of Chromos as our newest business partner,” says Eddie R. Brown, chief executive officer of Chattanooga, Tenn.-based XRG.
“Lusty and his team have done an outstanding job in expanding their company over the past two years,” Brown says. “We are confident that their contributions will be an asset to XRG’s continued growth and success. This transaction is an important step in furthering the non-asset based growth strategy of XRG Inc.”
