PS Logistics Completes Riechmann Transport Acquisition
BIRMINGHAM, Ala., Feb. 28, 2019 /PRNewswire/ -- PS Holdco, LLC ("PS Logistics") today announced that one of its subsidiaries has completed the acquisition of substantially all assets of Riechmann Transport (the "Company"). Financial terms of the transaction were not disclosed.
Riechmann, headquartered in Granite City, IL, has approximately 40 drivers and a seasoned management team. Riechmann is committed to providing excellent service, as well as supporting its drivers and long-term customers.
The transaction will strengthen PS Logistics' operations in the Midwest and provide it with an additional terminal in Granite City, IL.
"We are proud to welcome Riechmann to the PS Logistics family," said Houston Vaughn, President of PS Logistics. "We look forward to working with their great drivers and operations staff. Please join us in welcoming our newest addition to the PS Logistics Family."
"When our parents started Riechmann in 1969, they managed the business from their home in Alhambra, IL, along with raising seven children," said Dave Riechmann, President of Riechmann Transport. "Over the next 50 years the family built a successful trucking operation serving outstanding customers with dedicated employees, including some third-generation family members. Our family is pleased that PS Logistics will continue that tradition with the same commitment to service with our experienced and dedicated employees."
The Riechmann acquisition continues PS Logistics' acquisition strategy of partnering with families and owners within the flatbed trucking market. Since 2007, PS Logistics has successfully acquired 15 trucking and brokerage operations.
"PS Logistics has been a great partner for us. They have been totally supportive of our employees, customers and drivers and we have grown our business beyond what I ever could have imagined in the first year," commented Travis Booth, who sold Travis Booth, Inc. to PS Logistics in 2018.
About PS Logistics
Founded in 2004, PS Logistics is one of the largest and fastest growing flatbed transportation solution providers in the United States. PS Logistics provides full-service transportation services, including asset-based transportation, brokerage, 3PL and supply chain services. This hybrid model delivers optimal flexibility to address customer's flatbed transportation needs in various industries throughout the United States.
CONTACT:
Camille Herron
1927 1st Avenue North
Suite 701
Birmingham, AL 35203
(205) 788-4000
SOURCE PS Holdco, LLC
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