Transport Investments Acquires Jones Motor Group
Transport Investments Inc. has acquired Jones Motor Group and its four operating companies for an undisclosed amount.
Pittsburgh-based TII is a portfolio company of Revelstoke Capital Partners and ranks No. 89 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers. The Jones companies provide flatbed, heavy haul, dry van, refrigerated and less-than-truckload transportation services, and are based in Limerick, Pennsylvania.
TII announced the deal’s completion June 30.
With the completion of the purchase, Jones Chairman Don Sheehy has retired from trucking but will remain active in a real estate business that was once part of Jones. Jones President James Koegel succeeds Sheehy as chairman, and Senior Vice President Ken Lacey moves up to president. The personnel changes were posted on the Jones Motor website.
With the completion of the deal, TII will generate $350 million in annual revenue through 1,400 owner-operators and 350 agents who move about 170,000 loads per year. TII works in the flatbed, drop-deck, specialized and heavy-haul sectors of North America, and also does brokerage.
Jones’ operating companies are Jones Motor Co., Hot Shot Express, Jones Express and Jones Motor Logistics. The company started in 1894 before there were trucks, by providing horse-drawn transportation.
Revelstoke is a Denver-based private equity firm founded in 2013. TII started in 1986.
