Purdy Brothers Trucking acquires assets of Colonial Freight Systems and Phoenix Leasing of Tennessee
The transaction further establishes Purdy Brothers as an asset-light carrier in the refrigerated market in the southeastern United States
PS Logistics has announced that its Purdy Brothers Trucking subsidiary, based in Loudon, Tennessee, has completed an acquisition of certain transportation assets of Phoenix Leasing of Tennessee Inc. and entered into an agreement with Phoenix’s sister company, Colonial Freight Systems Inc., to contract with its drivers to continue to serve several of its southeastern blue-chip cold-chain customers. The financial terms of the transaction were not disclosed.
Based in Knoxville, Tennessee, Colonial was founded in 1943 by Clarence McBride and has continued to operate as a family business since its beginning. Blue-chip companies have relied on Colonial to meet their refrigerated transportation needs for nearly 80 years.
The transaction will further strengthen PS Logistics refrigerated operations in the Southeast by adding over 55 lease purchase drivers to Purdy Brother’s fleet, including over 50 new model tractors.
“We are proud to welcome the Colonial drivers to the PS Logistics family,” said Doug Surrett, president of Purdy Brothers. “We look forward to working with these great drivers to continue their best-in-class customer service.”
The acquisition continues PS Logistics’ acquisition strategy of partnering with families and quality owners within the flatbed, refrigerated, and logistics markets. Since 2007, PS Logistics has successfully acquired 27 trucking and brokerage operations, including C2 Freight and Noble during 2022.
