Celadon Trucking Services on Wednesday, Feb. 29, announced that it has purchased a significant portion of the operating equipment of Teton Transportation Inc., based in Knoxville, Tenn. The deal includes the purchase of about 180 tractors and 280 trailers for an undisclosed figure.
“We are excited with the Teton acquisition, as it fits well within the strategy we have executed during similar acquisitions over the last few years,” said Paul Will, president and chief operating officer of Indianapolis-based Celadon. “As with previous acquisitions, our goals are to continue to broaden our customer base with quality customers, add density in our primary traffic lanes, and gain experienced drivers. Based on our evaluation of the business, we believe Teton had a solid, core group of quality customers and drivers.”
Will said Celadon expects to integrate and optimize Teton’s customers and drivers within its operations promptly and further improve asset productivity. “We believe we can enhance the service to Teton’s former customers through an upgraded equipment fleet, excellent technology, more available assets for dispatch, and an outstanding safety record,” he said.