Freight News:
Hazmat hauler Grammer Logistics acquires niche 3PL
Hazardous materials hauler Grammer Logistics announced Monday it has acquired specialty 3PL Logistics Management Resources Inc. (LMR).
Financial terms of the transaction were not provided.
Baton Rouge, Louisiana-based LMR provides managed transportation services in the chemicals and industrial gases industries. The 41-year-old 3PL specializes in bulk tank, truckload, drayage and flatbed transportation.
The current LMR management team will remain in place and continue to run the operation. LMR President and CEO Heston Hodges will head Grammer’s transportation management unit.
“LMR is a highly respected leader in the chemicals logistics market,” said Scott Dobak, CEO of Grammer. “This acquisition supports our strategy of providing a diversified offering of both asset and nonasset services to our growing customer base. We believe this integrated approach is the future of chemicals logistics.”
Columbus, Indiana-based Grammer is a hazmat hauler and logistics provider. It has a fleet of 350 tractors, 950 specialty trailers and a driver network of more than 500. Grammer uses more than 20 terminals across the country to bulk ship specialty chemicals, gases and materials. It also provides transloading, terminal operations and hazmat handling.
Grammer is owned by private equity firms Stellex Capital Management and Mill Rock Capital.
“All stakeholders will benefit from the additional services that LMR and Grammer will jointly offer to the marketplace,” Hodges said. “Our clients gain access to an internal fleet of highly specialized drivers and equipment, and the strong carrier relationships we have developed over years will be further supported by the additional opportunities available through the combined platform.”
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Source: freightwaves - Hazmat hauler Grammer Logistics acquires niche 3PL
Editor: Todd Maiden