Roadmaster Group, Inc. has agreed in principle to acquire assets from Tri-State Motor Transit, in a transaction involving two companies that specialize in moving freight that requires high security levels.
Terms weren’t announced in the joint statement from Roadmaster, Glendale, Arizona and Tri-State, based in Joplin Missouri. The companies’ statement said they intend to complete the transaction as promptly as possible, and will coordinate transition activities in the meantime.
The combination creates a business with 400 power units, mostly team drivers and an annual revenue of more than $100 million.
“We look forward to finalizing the deal and then welcoming TriState’s professional drivers and staff to the Roadmaster family,” said Roadmaster’s CEO John Wilbur.
Glen Garrett, CEO of Tri-State said the company “has a very long, proud and honored position in this industry. I am confident this legacy would be in good hands with Roadmaster.”