Celadon Trucking Acquires Assets from Tango Transport
Celadon Group Inc. said its subsidiary Celadon Trucking Services has purchased select assets of the truckload business of Tango Transport.
Indianapolis-based Celadon Group ranks No. 42 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers, with revenues of $806 million in 2014.
Celadon said that according to the seller's unaudited financial statements, the Shreveport, Louisiana-based carrier generated about $90 million in gross revenue in 2014. A price for the assets was not disclosed.
Celadon Chairman and CEO Paul Will said in a release, "We are delighted with the Tango acquisition and expect it to fulfill one of our immediate goals of continuing to grow our business with our existing customer base by adding density in our primary traffic lanes and gaining experienced drivers."