Celadon Purchases A&S Services Group
Trucking and logistics operator Celadon Group Inc. on Monday announced the purchase of A&S Services Group LLC, a regional for-hire and dedicated truckload carrier.
The New Freedom, Pennsylvania fleet provides dry van transportation services almost exclusively and primarily serves the Mid-Atlantic and Northeast regions, along with offering logistics, warehousing and distribution services in the area, according to Celadon.
Celadon said it anticipates the present management team to remain in place and continue to operate independently under the A&S Kinard name while other company personnel, as well as customers, should notice little change in the future
The Indiana-based Celadon paid $55 million at closing and assumed $31.8 million in operating leases, according to a release.
“I look forward to bringing the vast, leading edge resources of Celadon to our customer base,” said Ken Buck, president of A&S. “This should help further accelerate our aggressive growth plans in the Mid-Atlantic and the Northeast.”
A&S has approximately 500 trucks and 1,500 trailers in its company-owned fleet, with approximately 500,000 square feet of warehouse space. Over the years, A&S has grown, including through acquisitions, such as Diamond Group Inc., Den-El Transfer and Kinard Trucking, according to Celadon.
“The various companies of A&S will be a terrific complement to our strategic footprint,” said Paul Will, Celadon president and CEO. “Ken Buck has assembled an excellent operating team, focused on providing a high service level to customers. We plan to keep his executive team and administrative organization in place, while providing the necessary resources to expand operations.”