Coyote Logistics and Chattanooga-based Access America Transport, two of the fastest-growing third-party logistics service providers in North America, announced that their boards of directors have approved a definitive merger agreement. Terms of the transaction were not disclosed.
Founded in 2002, 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 co-founder Ted Alling. “Coyote’s proprietary technology and back end 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.