The parent company of Towne Air Freight, an expedited trucking firm, is buying one of its rivals in Texas in order to expand Towne’s national terminal network.
Towne Holdings – parent company of Towne Air Freight and owned by private equity firm Charterhouse Group – purchased Texas Land and Air for an undisclosed sum, adding its nine Texas terminals to Towne’s national network of 52 facilities.
"This acquisition fits very well with Towne's build-up strategy,” said William Landuyt, a senior partner at Charterhouse. “[The acquisition] supports Towne's plan to further expand upon its geographic footprint and service offerings to better meet the needs of international customers.”
Towne manages air freight trucking in North America for airlines and air freight forwarders, along with other offerings including expedited services, dedicated vehicles, refrigerated service and other specialized trucking options. The Texas Land and Air purchase is only the latest in a string of buys over the last two years, which includes: Synergy Cargo Logistics, a full service logistics company concentrated in the U.S. Southwest, and Complete Transport, a company operating full-service terminals in the U.S. Midwest.
