News

VersaCold buys cross-border trucking firm

TORONTO, Ont. — VersaCold Logistic Services has announced its acquisition of the assets of cross-border carrier Gary Heer Transport. The move marks VersaCold’s entry into the US cross-border transportation segment. The company will launch its new subsidiary VersaCold North America Transportation Solutions (VNATS) in the first quarter of 2016. Gary

Freight Forwarder CVI Acquires M&S Shipping

CV International, a Norfolk, Virginia-based freight forwarder and customs broker, has acquired M&S Shipping Ltd., a Virginia Beach company that provides domestic and international freight-forwarding services. Terms were not disclosed. “This was a positive development for both of our companies,” CVI President Mike Coleman said in a statement Jan. 4.

UTi Shareholders Approve Acquisition by DSV

Shareholders of UTi Worldwide Inc. overwhelmingly approved a $1.35 billion acquisition by Denmark’s DSV A/S, a move that is intended to broaden the buyer’s U.S. and overseas logistics capabilities. The vote was more than 99% in favor of combining UTi, which ranks No. 9 on the Transport Topics Top 50

Gordon Brothers Acquires Wilbanks Trucking Fleet

Gordon Brothers Group announced it executed a definitive agreement with Wilbanks Energy Logistics and its affiliated entities to acquire the company’s entire fleet of trucking and heavy haul equipment and commence its immediate orderly sale as part of a joint venture with Hilco Industrial. Founded over 25 years ago, Wilbanks

Logistics M+A Boom Echoes into New Year

With 2015 winding up as a boom year for mergers and acquisitions in the logistics industry, a new report reveals that nearly 48% of shippers regard M+A activity in logistics as a positive and just over 39% embrace the M+A frenzy because they prefer full-service logistics providers that offer a

VPG buys trucking technology company for US$20mln

Precision sensor maker Vishay Precision Group (NYSE:VPG) is buying a company that manufactures weighing technology for trucks. VPG has struck a deal to acquire privately owned Stress-Tek of Kent, Washington, for US$20mln, which VPGplans to fund with cash and debt. Stress-Tek’s sensors and display systems are used in a wide