Houston, AL — TA Services Inc., a premier full-service logistics provider and division of PS Logistics, announced today it has completed the acquisition of Houston, Alabama-based C2 Freight Resources, a high-end brokerage specializing in dry-van, flatbed, temperature-controlled, expedited and LTL services. The acquisition of C2 Freight Resources is part of TA Services’ commitment to continued brokerage growth and expanded services for new and existing customers. The financial terms of the transaction were not disclosed. Tenney Group, a transportation industry-specialized M&A firm, advised the seller.
C2 Freight Resources was founded in 1998 by Jeff Gunnin and John Cunningham to bring third-party efficiencies to shippers across North America. Its customer base includes Fortune 500 companies in industries ranging from building materials, paper, and animal products to food and beverage, packaging, and consumer goods. C2 has been recognized for its top-tier service with awards including the NASTC Broker of the Year.
“C2’s strong culture and focus on operational excellence meshes well with that of TA Services,” said Scott Schell, CEO and President, TA Services. “We share the value of developing long-lasting relationships with both shippers and carriers, and this acquisition will be additive to the company’s vision and ability to continue providing top-level service across the board. C2 has incredible employees who will fit into the TA Services culture seamlessly.”
The acquisition accelerates TA Services’ growth to over $600 million in revenue, 750 employees, and over 23 global locations, spanning from Monterrey, Mexico, to Toronto, Canada.
“TA Services’ leadership is strong, and I don’t think anyone does a better job than TA Services when it comes to customer and carrier relationship development,” said Jeff Gunnin, President and co-founder, C2 Freight Resources. “They treat carriers fairly and put a tremendous emphasis on customer service, which means a lot to us. We are excited for the opportunity to unite our people, our carriers, and our customers with TA Services as a result of this acquisition.”
This transaction marks the third for Tenney Group in a matter of weeks. Spencer Tenney, President and CEO says, “As some of our team members shared at the start of Q2 at the TIA annual conference, non-asset & asset-light acquisitions are going to continue to draw interest from strategic and financial buyers alike. Regardless of how the freight market turns, there will always be a demand for a well-performing brokerage.”
Tenney Group is a merger and acquisition advisory firm that has been dedicated to the transportation and logistics industry since 1973. Tenney Group primarily provides sale-side advisory services for companies with annual revenues ranging from 20M to 300M.
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