Best Logistics Group acquired East Coast Truck Lines in Cheraw, S.C., in a deal that expands the company’s trucking services in the South Carolina market.
Terms were not disclosed.
Best Logistics Group President Roy Cox said East Coast was founded in 1978 to serve the beverage industry in the Carolinas. Kernersville, N.C.-based Best Logistics Group was founded in 1982.
Best Logistics Group President Roy Cox announced the acquisition this week of East Coast Truck Lines, based in... https://t.co/I7ywJf1XVq— Best Logistics Group (@shipwithbest) October 3, 2017
The companies have much in common, Cox said.
“East Coast Truck Lines and Best Logistics Group not only operate in similar markets but share values and ideals that make this acquisition a perfect match,” Cox said in a statement Oct. 2. “We are excited to welcome the East Coast employees to the Best family of companies.”
Cox said the operations of East Coast Truck Lines will be folded into Best Cartage, the company’s shorthaul trucking business, which operates in the Carolinas and Virginia.
Trucking contributes about 50% of total revenue for Best Logistics Group, which also provides non-asset-based logistics services, including freight brokerage, warehousing and distribution, dedicated contract carriage and freight forwarding.
Total revenue for Best Logistics Group was $105 million in 2016, and Cox said he expects the business to generate revenue of $125 million this year through a combination of internal growth and acquisitions.
In January, Best Logistics Group acquired C&S Carpet Distribution, a company in Dalton, Ga., that provides less-than-truckload and truckload service to the carpet and floor covering industry with a fleet of 35 tractors and 33 trailers, according to registration data on file with the U.S. Department of Transportation.
Best Cartage operates a fleet of 102 tractors and 650 trailers and Best Specialized, a flatbed/heavy specialized carrier, has a fleet of 56 tractors and 139 trailers. The East Coast Truck Lines fleet consisted of 34 tractors and 150 trailers, according to the latest DOT data.