Important Announcement
Interstate Personnel Services, Inc. (IPS) announced the acquisition of Joplin, MO based dry van truckload carrier Transport Distribution Company (TDC) and a related entity for an undisclosed amount. TDC, founded by Larry Kloeppel, has been operating since 1985. IPS cited the quality of the company’s drivers & staff employees, excellent safety profile, and strong customer relationships as keys to the acquisition. The transaction closed on July 14th according to IPS.
TDC, which was represented by Transport Capital Partners, will continue to be led by its President Regan Stephens. TDC will operate autonomously under the IPS umbrella, will retain its name, and continue to focus on providing premium regional service to customers throughout the Midwest and Central USA.
“TDC’s regional coverage, focus on safety, providing high level service, disciplined management style, and family culture are exactly what we are looking for as we build and increase overall capacity solutions for truckload shippers in the USA.” IPS President and CEO Dave Gibbs said. Further, Mr. Gibbs stated: “We believe this should be a very positive transaction with minimal revenue churn, with TDC retaining its name and its current management team.” Our focus is and will be to support Regan and his team on driving benefits due to advantages of scale and certain synergies. Regan Stephens stated, “The timing was right for some of our family to retire out of TDC, and the geographical fit was perfect between our companies. Dave Gibbs had my trust not only because I had met Dave before, but he kept gaining trust from day one of our negotiations, and the fact that our TDC people got to become part of a ESOP was a great benefit. The reasons that make this right for our people kept piling up.”
IPS and its primary subsidiary companies Paschall Truck Lines, Paschal Logistics, Paschall Trailer Leasing, and IPS Leasing was founded in 1937 and currently operates over 1,000 units and 3,000 trailers in its truckload operations. IPS is a 100% Employee Owned (ESOP) company that provides One Way, Dedicated, Regional, Long Haul, Logistics, and Equipment Leasing services in the United States and Mexico.
If you have any questions or comments regarding the transaction please feel free to contact one of the following:
Regan Stephens, President Transport Distribution Company
regan@joplin.gotdc.com
800-866-7709
or
Misty Darnell, Vice President of Corporate Development and Accounting
mdarnell@ipsmgt.com
270-293-3077
Interstate Personnel Services, Inc. (IPS) announced the acquisition of Joplin, MO based dry van truckload carrier Transport Distribution Company (TDC) and a related entity for an undisclosed amount. TDC, founded by Larry Kloeppel, has been operating since 1985. IPS cited the quality of the company’s drivers & staff employees, excellent safety profile, and strong customer relationships as keys to the acquisition. The transaction closed on July 14th according to IPS.
TDC, which was represented by Transport Capital Partners, will continue to be led by its President Regan Stephens. TDC will operate autonomously under the IPS umbrella, will retain its name, and continue to focus on providing premium regional service to customers throughout the Midwest and Central USA.
“TDC’s regional coverage, focus on safety, providing high level service, disciplined management style, and family culture are exactly what we are looking for as we build and increase overall capacity solutions for truckload shippers in the USA.” IPS President and CEO Dave Gibbs said. Further, Mr. Gibbs stated: “We believe this should be a very positive transaction with minimal revenue churn, with TDC retaining its name and its current management team.” Our focus is and will be to support Regan and his team on driving benefits due to advantages of scale and certain synergies. Regan Stephens stated, “The timing was right for some of our family to retire out of TDC, and the geographical fit was perfect between our companies. Dave Gibbs had my trust not only because I had met Dave before, but he kept gaining trust from day one of our negotiations, and the fact that our TDC people got to become part of a ESOP was a great benefit. The reasons that make this right for our people kept piling up.”
IPS and its primary subsidiary companies Paschall Truck Lines, Paschal Logistics, Paschall Trailer Leasing, and IPS Leasing was founded in 1937 and currently operates over 1,000 units and 3,000 trailers in its truckload operations. IPS is a 100% Employee Owned (ESOP) company that provides One Way, Dedicated, Regional, Long Haul, Logistics, and Equipment Leasing services in the United States and Mexico.
If you have any questions or comments regarding the transaction please feel free to contact one of the following:
Regan Stephens, President Transport Distribution Company
regan@joplin.gotdc.com
800-866-7709
or
Misty Darnell, Vice President of Corporate Development and Accounting
mdarnell@ipsmgt.com
270-293-3077
Services
TransportationOptimizing your business by offering the most reliable and highest quality, asset based, transportation service.
|
