Celadon's Trucking Services Unit Announces Purchase of Rock Leasing, Kelly Logistics
Celadon Trucking Services, Inc., a wholly-owned subsidiary of Celadon Group, Inc. (NYSE: CGI) announced today that it has agreed to acquire Rock Leasing, Inc., based in Warren, IN, and Kelly Logistics, Inc., based in Wadley, AL. The terms and conditions of the transactions were not disclosed. With these acquisitions, Celadon will further expand its breadth of service, now to include temperature control service, as well as an increased number of customer spotting locations and increased multi-tenant warehouse space, in addition to its dry van, intermodal, regional and local coverage.
In addition to its dry van business, Rock Leasing is a provider of temperature controlled shipments in and out of the Midwest, which enables Celadon to enter this service category well within many of its primary freight lanes. Kelly Logistics provides dedicated equipment spotting and shuttle services to customers at multiple locations in the Southeast. Celadon will be maintaining the Rock Leasing facility in Warren, IN, which includes two warehouses on approximately 20 acres and approximately 150,000 square feet of warehouse space. In addition, both Robert Seabolt from Rock Leasing and Guy Kelly from Kelly Logistics will remain with Celadon for a period of time to help ensure an orderly transition.
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