Chicago, IL /PRNewswire/ - Coyote Logistics ("Coyote" or the "Company") and Access America Transport ("AAT"), two of the fastest-growing third-party logistics ("3PL") service providers in North America, announced today that their Boards of Directors have approved a definitive merger agreement. Terms of the transaction were not disclosed.
Founded in 2002, Chattanooga, Tennessee-based AAT handles multi-modal transportation including truckload, less-than-truckload, intermodal, flatbed, and specialized freight for shippers and carriers across the country. Upon closing of the transaction, the combined company will be one of the largest 3PL service providers in North America with run rate revenues of over $2 billion, 17 North American locations, approximately 40,000 contracted carriers and approximately 1,750 employees.
"We are incredibly excited to welcome the Access America team to the pack," said Coyote CEO and Cofounder Jeff Silver. "We are confident that our shippers and carriers will see the benefit of our newly expanded and dedicated customer service team. This merger reinforces our relentless commitment to shippers and carriers across North America. We now have more resources and better capacity to serve them."
"This is the perfect marriage of two companies that share a common set of values and are each fiercely dedicated to the shippers and carriers of all sizes that we serve across North America," said AAT CEO and Cofounder Ted Alling. "Coyote's proprietary technology and backend support will bring a level of unprecedented sophistication to AAT shippers and carriers."
The transaction is consistent with the strategies of both companies: to build a premier supply chain offering that provides services for all transportation needs. Shippers and carriers will benefit from an expanded network, enhanced multi-modal transportation capabilities, and improved less-than-truckload services.
Jeff Silver will continue to serve as Coyote's CEO, and Chad Eichelberger, president of AAT, will serve as the combined Company's president of brokerage.
The transaction is expected to close during the first quarter of 2014.
Coyote Logistics LLC, headquartered in Chicago, IL, was founded in 2006 and is one of the most innovative, fastest-growing non-asset-based third-party logistics ("3PL") service providers in North America. Coyote provides truckload, less-than-truckload, and intermodal brokerage services as well as transportation management services through a nationwide network of transportation providers. Coyote serves customers in a variety of industries, including food and beverage, forest products, metals, plastics, consumer products, and government services. Coyote is a philanthropic supporter of St. Jude Children's Research Hospital. Coyote is a privately held company, backed by financial partner Warburg Pincus LLC.
Coyote is ISO 9001:2008 certified and has been widely recognized for its innovation, growth, and strong culture. Crain's Chicago Business named Coyote #1 on its Fast Fifty list, and the Chicago Tribune named Coyote to its list of Chicago's Top Workplaces for four consecutive years. CEO and Cofounder Jeff Silver was named Ernst & Young Entrepreneur of the Year in the Midwest category, and Chief Executive recognized him as CEO of the Year in the Overall Excellence category. Chief People Officer and Cofounder Marianne Silver was named to Forbes's list of 11 Women Who Started Amazing Companies.
About Access America Transport
Access America Transport ("AAT") is a full-service transportation company based in Chattanooga, TN, that excels at all modes of transportation, including truckload (van, flatbed, and temperature-controlled), less-than-truckload, intermodal, and specialized freight for customers. The company operates nine locations across North America. Access America Transport was founded in 2002 by Ted Alling and Barry Large as the logistics division of Key-James Brick & Supply Inc. Soon after the initial concept, AAT diversified into other commodities and grew quickly.
AAT is ISO 9001:2008 certified and has been recognized for its growth and culture, including being ranked #9 among the top 25 of Forbes's list of America's Most Promising Companies in February 2013. AAT has been named to the Inc. 5000 list for three consecutive years; the Inbound Logistics Top 100 3PL Providers list from 2008 to 2013 (honorable mention Top 10 2011–2013); SupplyChainBrain's 100 Great Supply Chain Partners; BusinessTN magazine's Best Employer in Tennessee; and theStarTribune's 2013 list of the Top Workplaces in Minnesota.
For more information, please visit www.coyote.com.
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