No CCJ Top 250 fleet has been more active in mergers and acqusitions than Birmingham, Alabama-based PS Logistics (No. 33). Since 2016, PS Logistics has acquired 28 trucking and brokerage operations, and two in the last eight days.
P&S Transportation on Tuesday said it has purchased all substantial transportation assets of Rinaudo Enterprises Inc. and Ringo Specialized Hauling Inc., a privately owned interstate trucking and brokerage company that provides specialized transportation services for high-value industrial equipment across the southeast and midwest. Financial terms were not disclosed.
P&S Transportation on July 17 acquired Action Dedicated LLC and Action Dedicated II LLC, two subsidiaries of Action Resources LLC that specialize in dedicated transportation in the Southeastern United States.
Headquartered in Jacksonville, Florida, Rinaudo maintains a fleet of 56 tractors and 75 trailers and primarily hauls oversize and overweight industrial equipment for the infrastructure, construction, agriculture, and forestry end markets.
“We are proud to welcome Rinaudo to the PS Logistics family,” said Scott Smith, chief executive officer, and co-founder, PS Logistics. “Rinaudo brings highly skilled drivers, an established leadership team, and long-tenured customer relationships to the PS Logistics family, and we look forward to continuing the Rinaudo tradition of delivering best-in-class service to its customers.”
With this transaction, P&S said it has established a specialized business segment to further enhance and grow the services provided to existing and future customers within PS Logistics’ freight network. The acquisition provides Rinaudo, its customers, and its drivers with expanded capacity, new service offerings, and increased economies of scale.
Rinaudo will be managed by Kevin Nixon as a separate division of P&S, but Rinaudo will continue to operate under the same name.
“P&S will be a great partner for our business,” Frank Rinaudo Jr., president, Rinaudo said. “We are excited to partner with a larger organization that is also committed to its drivers and their success, and this will allow us to provide to our customers a wider array of services and increased capacity.”
The acquisition is at least the 11th made this year by a CCJ Top 250 fleet.