+1-888-308-5802     
News Contact Us

NFI Industries unveils plans to purchase G&P Trucking Company

Author : Pankaj Singh | Published Date : 2019-12-31 

NFI Industries, a New Jersey based transportation and logistics company that offers services like intermodal, trucking, warehousing, drayage, brokerage and distribution, has reportedly announced that it would be acquiring G&P Trucking Company, Inc.

G&P, headquartered in Columbia, South Carolina, is a trucking carrier with over 3,000 trailers and 370 tractors, operating in the Southeast region and offers a dedicated, long-distance, regional as well as Mexico cross-border capacity. The trucking company is also operating drayage fleets located at the ports of Norfolk, Charleston and Savannah.

Sid Brown, CEO, NFI, reportedly stated that unifying the talents of both the teams, the company is thrilled to bring greater value to their customers through its strong suite of solutions. G&P, a renowned transportation company with deep-rooted history, together with NFI’s shared values of family and integrity will create a perfect cultural fit.

Brown further added that together their combined footprint would distinguish them as one of the biggest transportation service providers throughout North America.

The financial details of the agreement are yet to be disclosed.

NFI, has annual revenues of about $2 billion. The company operates with over 12,500 trailers, 3,000 tractors and nearly 50 million sq. ft of space for warehousing.

The agreement further strengthens the drayage industry. From the past 15 years, NFI has combined mergers and acquisitions with organic growth, with the acquisition of G&P being the fifth since 2016.  The company had also extended its investment strategy recently.

The deals have been directed towards helping the company expand its segments and taking hold of emerging market trends. Citing an instance, infrastructure investments by ports in East Coast and blockage on the West Coast has been partly responsible for a shift in the volume of containers to the East Coast. With the new acquisition, NFI should be able to seize this opportunity.
 

Source credit: https://www.freightwaves.com/news/nfi-industries-acquires-gp-trucking-company

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

FDA suggests the recall of all Zantac drugs from the market

Published Date: 2020-04-03         Author: Pankaj Singh

America’s federal healthcare agency, the U.S. FDA has recently requested all drug manufacturers to immediately recall all over-the-counter and prescription ranitidine drugs that are commonly sold under the name Zantac from the market.  According to reliable sources, in its ongoing inve... Read More

Skyrora to produce masks and sanitizers for UK amid COVID-19 crisis

Published Date: 2020-03-30         Author: Pankaj Singh

Skyrora, a Scotland based private space company, reportedly announced that it would start manufacturing health equipment for frontline workers in the United Kingdom, answering the call of the UK government as well as the National Health Service to help the country fight the growing spread of the cor... Read More

InterSystems launches a new version of InterSystems IRIS Data platform

Published Date: 2020-03-26         Author: Pankaj Singh

InterSystems, a U.S based software firm that focuses on helping consumers solve crucial interoperability, speed, and scalability problems efficiently, recently revealed its latest version of the InterSystems IRIS™ data solution. Reportedly, this comes as its third major launch of InterSyste... Read More

© 2020 Fractovia. All Rights Reserved