ABF Logistics Acquires Dedicated Logistics Provider for $25 Million
ABF Logistics has acquired Logistics & Distribution Services Corp., a company based in Sparks, Nevada, that provides dedicated logistics services, for $25 million.
The deal is the third acquisition for ABF Logistics since it was formed in 2013 by ArcBest Corp., the corporate parent of less-than-truckload carrier ABF Freight and expedited carrier Panther Premium Logistics.
Under terms of the transaction, ABF Logistics will pay $17 million in cash at closing and an additional $8 million over two years if certain financial targets are met.
“This purchase is another important step in our strategy to seamlessly provide customers with the full logistics services they require and grow the percentage of total revenue that comes from the asset-light business operated by ArcBest,” ABF Logistics President Jim Ingram said in a statement Sept. 2.
LDS founder and President Ross Kline said he looks forward to working with ArcBest to provide customers with a broader selection of services. “This is a perfect alignment of two unique logistics providers,” said Kline, who will remain in charge of business operations in Sparks and Allentown, Pennsylvania, where the company has 30 employees and generates annual gross revenue of about $60 million.
ABF Logistics previously purchased Bear Transportation Services and Smart Lines Transportation Group. It provides freight brokerage, intermodal and ocean freight forwarding, warehousing and household goods moving services.
ArcBest ranks No. 12 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
