Latest News & Tips

Bookmark and Share

Penske Logistics Buys Out Epes Transport System

Pennsylvania-based Penske Logistics, subsidiary to Penske Truck Leasing and the Penske Corporation, has recently announced a deal to buy out North Carolina's Epes Transport System company, Trucking Info reports.

While employees at Epes have known about the arrangement since late in May, the deal did not go public until June. At present, little information as to the transaction specifics or other details have not been released, though current plans have Penske retaining the original Epes leadership team at their facilities.

On acquiring the company, Penske calls it a "growth opportunity" they plan to use to expand their existing businesses to a wider market. Penske Truck Leasing specializes in several forms of truck transportation and logistics solutions, from distribution center management, transportation management, supply chain management, and more. Their exact plans for where Epes fits into their current model or what they'll do with the brand name have not been announced.

Epes Transport System is currently one of the largest private trucking companies in the state of North Carolina, operating in several surrounding states since 1931. A few weeks after announcing the merger between itself and Penske to its employees, the company also announced the largest pay raise in its history, increasing worker pay by a cumulative $3 million.

Penske Truck Leasing is a joint venture between the Penske Corporation, Penske Automotive Group, and Mitsui & Co., Ltd. since 1969, offering a variety of trucking-related and logistics services for decades. Penske Logistics is the wholly owned subsidiary of the company, with Epes soon to become another branch of their business. They are known for working in various states and countries all across North and South America, Europe, and Asia.

To stay up to date on this and more stories, as well as find parts and services for your own semi-truck, contact Michigan Truck Sales & Equipment today.

Powered by Devcode