Company Formed From GPS Mergers

Related Stories To get the latest news and stock quotes for publicly traded trucking companies, see the NEW Transport Topics Trucking Stock Index. (Note: To return to this story, click the "Back" button on your browser.)

General Parcel Service, a package carrier based in Jacksonville, Fla., that spawned Transit Group of Atlanta in June 1997 and was spun off to a new management group a few months later, has merged with Bank Air Courier of Columbia, S.C., and Anderson Armored Car/Courier Division in Anderson, S.C., and has adopted a new name — Momentum Logistics.

Momentum President Paul Saffell said the new organization will provide expanded transportation services to businesses in the Southeast.

The courier division will provide same-day on-demand transportation services, as well as expedited trucking and distribution, in Florida, Georgia, South Carolina and North Carolina.

The parcel division will continue to provide same-day and next-day package delivery service and pool distribution throughout Florida and in the metro Atlanta area.

GPS was founded in 1985 and was never profitable in its five years as a publicly owned company. In 1997, owner T. Wayne Davis Jr. hired Philip Belyew as president. Belyew changed the name to Transit Group and adopted a new business strategy of acquiring and consolidating small truckload carriers.

Davis then tried to sell GPS, but changed his mind, kept the business and installed new management.

he company eliminated its unprofitable parcel delivery operations in the Carolinas and concentrated on expanding its Atlanta-to-Florida next-day parcel delivery business and adding new courier services to its portfolio.

For the full story, see the March 29 print edition of Transport Topics. Subscribe today.