Entrepreneur Peter Stott’s trucking firm Market Express purchased Westco Express in a deal combining two regional carriers.
Terms of the deal weren’t disclosed.
Trucking veteran Stott launched Portland, Ore.-based Market Express in the summer of 2016. It runs 95 trucks — 65 company-owned and 30 with owner-operators — and 150 trailers and projects more than $20 million in revenues this year. Denver-based Westco operates 60 trucks and 200 trailers in eight Great Plains and Western states.
Market Express projects that by mid-2018 it will generate top-line revenues of $50 million while operating 210 trucks and 450 trailers. The company offers truckload, less-than-truckload and intermodal services with distribution and supply chain management.
“The combined company will expand the geographic footprint of the regional trucking capabilities, create operational efficiencies and will allow for the cross-selling of new products to the Westco Express customer base,” Market Express President Greg Galbraith said.
Stott was the founder and chairman of Market Transport, a one-truck operation he grew into a market logistics company with $359 million in revenues. Stott and majority partner Endeavour Capital sold Market Transport in 2006 to UTI Worldwide.
In 1988, Stott founded the forestry firm Crown Pacific and served as its chairman until 2004. He is also involved in real estate development, farming, industrial rigging and moving and insurance.