( IFCR ) Key TL Holdings Acquires American Transportation & Logistics
DANBURY, CT / ACCESSWIRE / APRIL 15, 2014 / Key TL Holdings, Inc. (Key), announced today its acquisition of American Transportation & Logistics (ATL), a regional dry van and reefer carrier based in Windsor Locks, CT.
David N. Fuselier, CEO of Key TL said, “American Transportation & Logistics is an important initial acquisition for Key TL. In addition to its existing base of business, ATL is well-positioned to play a major role in our current logistics network and in the development of our freight lanes in the northeast corridor.”
Key TL Holdings is a recently formed entity of Fuselier and Co. According to Mr. Fuselier, “Key was formed for the purpose of acquiring historically sound small to medium-sized truckload carriers. We have a short list of carrier candidates that, like ATL, have a defensible niche base of business and offer a good strategic “fit” with our other trucking and non-trucking operations.”
Based in New England, ATL operates primarily in the northeastern United States and has posted solid profitability for years. Its mission is to provide “house carrier” service for shippers of refrigerated and dry food stuffs as well as department store merchandise. Unlike most long-haul carriers, ATL’s head haul business is outbound from the Northeast which enables the company to deliver well above average total revenue per mile. ATL has 30 employees utilizing 25 power units and operates from its 10,000 square foot facility near Bradley International Airport.
“ATL is a great addition to our operations,” said Fuselier. “Ed Michaels, ATL’s former owner, will remain with the company and be an integral part of Key’s executive staff and long-term growth plan. He knows how to build a business, develop employees, and identify new acquisition opportunities. We are pleased to have Ed and the rest of the ATL team on board.”
David N. Fuselier also is the Chief Executive Officer, and one of the largest shareholders, of national carrier Integrated Freight Corporation (IFCR) and orchestrated one of the industry’s more difficult turnarounds last year. That carrier posted its first profitable quarter since inception while increasing its net equity over $10xxMM.