Merger & Acquisition Insights

Titan Transfer Acquires JTL Carriers. Tenney Group Advises.

Posted on December 09, 2020 by admin

Titan Transfer Acquires JTL Carriers. Tenney Group Advises.

Shelbyville, TN., Dec 9, 2020 – Titan Transfer, Inc., a truckload carrier servicing all parts of the United States, announced the acquisition of the assets of JTL Carriers of Franklin, WI.  JTL Carriers is a dry van hauler with a rich history of serving the auto industry at the highest level. The company currently operates approximately 75 tractors and employs approximately 90 drivers. The financial terms of the deal were not disclosed. Tenney Group, an industry specialized M&A firm, advised the seller.

The strategic acquisition of JTL Carriers supports Titan’s commitments to growth, safety, and excellence. Other notable acquisitions for Titan over the past few years have included RRR Express out of Cincinnati, OH and Reynolds Logistics out of Tucson, AZ.  Founded in 2000, Titan is a leading provider of cargo transportation services with customers across the country. Titan’s sister company, Goggin Warehousing, provides warehousing services to the industry as well. Phillip Edwards, President of Titan Transfer, shared “By teaming up with the great group at JTL, Titan is able to expand our network, add excellent drivers, achieve operational efficiencies, and strengthen our foundation for our future success.” The addition of JTL will take Titan’s existing fleet beyond 550.

Jeff Lorino, former owner of JTL Carriers, and his family have had strong relationship ties to the auto industry for decades. The customer relationships and Lorino’s operational experience in the space were key to making this transaction happen. Lorino will continue on working with the team at Titan as General Manager. Lorino shared, “I am very excited about the deal with Titan Transfer. It is a great opportunity for us to realize our full potential and to collaborate with the great leadership at Titan. I am eager to begin this new chapter in the JTL Carriers story.”

Spencer Tenney, President and CEO of Tenney Group, shared “Titan’s acquisition of JTL is a great strategic move for both parties and a lens into a larger industry trend. We expect a significant activity spike in truckload acquisitions in Q1 and Q2 of 2021.”

For more information about Titan Transfer, Inc. visit www.titantransferinc.com

Tenney Group is a merger and acquisition advisory firm that has been dedicated to the transportation and logistics industry since 1973. For more information, visit www.thetenneygroup.com.

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