MGM Transport Bought by Private-Equity Firm

MGM Transport Corp. has been acquired by private-equity firm CF Holding Co. for an undisclosed sum, the Business Journal of the Greater Triad Area, in North Carolina, reported last week.

The High Point, N.C., trucking company will be run as a subsidiary of CF, the paper said, citing MGM.

CF Holding Co., a subsidiary of Harbert Private Equity Fund II of Birmingham, Ala., is a furniture transportation group that includes Caldwell Freight Lines and Foothills Trucking Co., both located in North Carolina, the Business Journal reported.

According to American Trucking Associations’ 2005 fleet directory, MGM had about 250 tractors and 500 trailers.

According to its Web site, MGM was founded by brothers Michael and George Massood MGM with a single truck in the New York Metropolitan area. The company was incorporated in 1952.

MGM’s leadership, management, employees and assets will remain intact, the Business Journal reported. The combined CF companies will have annual revenues in excess of $120 million, it said.