CRST International Inc. on Thursday, July 28, announced the acquisition of Specialized Transportation Inc., a provider of customized supply chain solutions for products that require high-touch support, special handling and equipment, and value added onsite services. Both companies are privately held; terms were not announced.
STI, an independent company since 2004, was formerly the high-value products/logistics division of North American Van Lines. Headquartered in Ft. Wayne, Ind., the company has 250 employees and 500 owner-operators and works through a network of 150 agents in the United States and Canada. STI specializes in supporting customers in the technology, healthcare, industrial, furniture, store fixtures, retail and financial services markets.
“With this acquisition, CRST International projected annual revenue will be in excess of $1.3 billion and will make CRST one of the largest and most diversified transportation companies in the United States,” says Dave Rusch, president and chief executive officer of the Cedar Rapids, Iowa-based company. “It supplements our current business of expedited van, flatbed, dedicated fleet and transportation management services by giving us access to a new network of agents and 45 distribution centers in key metropolitan areas in North America.”
CRST International currently employs more than 4,400 drivers and office personnel and an additional 2,500 independent contractors across the United States. “STI’s capabilities complement and expand the services offered by CRST,” says Ian Nicolson, president and CEO of STI. “Our suite of services includes specialized padded van transportation, trade show support, first- and final-mile logistics, white-glove services, transportation management, warehousing, home delivery and technology tools. CRST’s substantial resources will enable us to expand our service offerings.”