Express-1 Expedited Solutions, through its wholly owned subsidiary Express-1, on Friday, Jan. 16, announced the purchase of certain assets of First Class Expediting Services, a Rochester Hills, Mich.-based provider of expedited transportation services.
“We are very excited about the acquisition of a company with the reputation of First Class Expediting,” says Michael Welch, chief executive officer of St. Joseph, Mich.-based Express-1. “Their operations are a very good fit and further enhance our expedited footprint.”
FCES generated about $4.0 million of expediting revenue during the year ended Dec. 31. The transaction took the form of an asset purchase, and the operations of FCES will be rolled into the company’s Express-1 operations. Financial terms of the transaction were not disclosed separately, but will be provided within the company’s next quarterly report.
“We are excited to have First Class Expediting become a part of Express-1,” says Jeff Curry, Express-1 president. “They have a focused business model that services the regional expedited transportation needs of a critical region in the Midwest. Their focus on regional business and our attention to national and international services makes for a good fit. They use the same operating system and the same model of owner-operators as ours, so we foresee a very smooth transition.”
“Express-1 is a leader in the expediting industry and will enhance the strength of our business,” says Bill Champe, FCES president. “As part of the Express-1 operations, we will now be in a position to provide our valued customers with more service offerings over an even greater geographic area. We are excited to become part of the Express-1 family.”
