Interstate Personnel Services (IPS) has acquired Joplin, Missouri-based dry van truckload carrier Transport Distribution Company (TDC) and a related entity for an undisclosed amount. TDC, founded by Larry Kloeppel, has been operating since 1985.
"TDC’s regional coverage, focus on safety, providing high level service, disciplined management style and family culture are exactly what we are looking for as we build and increase overall capacity solutions for truckload shippers in the U.S.," said IPS President and CEO Dave Gibbs.
TDC will retain its name and current management team. Gibbs said it will operate autonomously under the IPS umbrella, and will continue to focus on providing premium regional service to customers throughout the Midwest and Central U.S.
"The timing was right for some of our family to retire out of TDC, and the geographical fit was perfect between our companies," said Regan Stephens, who will continue to serve as TDC President. "Dave Gibbs had my trust, not only because I had met Dave before, but also he kept gaining trust from day one of our negotiations. And the fact that our TDC people got to become part of a ESOP was a great benefit. The reasons that make this right for our people kept piling up.”
IPS and its primary subsidiary companies Paschall Truck Lines, Paschal Logistics, Paschall Trailer Leasing, and IPS Leasing was founded in 1937 and currently operates more than 1,000 units and 3,000 trailers in its truckload operations. IPS is a 100% Employee Owned (ESOP) company that provides one-way, dedicated, regional, long haul, logistics, and equipment leasing services in the U.S. and Mexico.