PS Logistics announced that it acquired Buddy Moore Trucking. According to reports by FreightWaves, the move will expand PS Logistics' reach in the Southeastern U.S. There have been many mergers over the years. There have also been many acquisitions in the recent past. The main aim is to boost businesses. At the same time, it also saves other potentially big companies who might not be performing at their best. In this case, PS Logistics is looking to expand its presence in the market.
Buddy Moore in Numbers
Buddy Moore Trucking started its operations in 1999. They operate a flatbed fleet of 130 tractors. They also run a dry van operation of 120 trucks. FMCSA reported that they have 517 registered power units. They also run a brokerage division. Both parties have kept the financial terms of the deal to themselves.
The Outcome of the Deal
All companies have something to gain when they go into mergers. BMT will stand to benefit in their ways. PSL also stands to achieve in its way. BMT will be a perfect fit for what PSL has going on. The operating model of PSL will be an excellent fit for BMT. PSL also has quite some capacities. They also have quite an extensive reach on the market. This is quite rightly a match made in heaven for the parties. One of the most strategic moves of the deal is that BMT continues to operate under its current banner. It will operate just as a division of PSL.
What PS Logistics Offers
PS Logistics does many things on the market. The most common one is the asset-based transport. They also offer brokerage, third-party logistics, and managed transportation. This is not the first business PSL is buying. They have been doing this since 2016. They have been going for specific types of companies in particular. They prefer family-owned flatbed trucking and logistics businesses. PSL has acquired 30 firms since then. That translates to over 35 transactions since they began in 2004.
Buck Moore is quite optimistic that this acquisition is only for the best. He stated that he has, over the years, seen how PS Logistics operates on the market. He said he has seen how PSL does the acquisitions for the best. PSL delivers value not just to the customers but also to the drivers and the employees. He is looking forward to outstanding achievements together. Now, they have access to an even more extensive freight network and better resources to help them grow together.
Acquisitions are a thing of the past and will never go away. They are one of the strategies companies use to grow. At the end of such deals, they can only be winners. A good example is the deal between PSL and BMT. BMT keeps operating under its banner. In so doing, they keep the customers who have already identified with their brand. At the same time, the customers are now learning about PS logistics. Acquisition is an excellent way of expanding a brand's reach.
