Towne Holdings Inc., a provider of air cargo ground logistics, has acquired Texas Land and Air. No financial terms were disclosed. Towne Holdings is a portfolio company of Charterhouse Group.
Towne Holdings, Inc. (“Towne” or the “Company”), a portfolio company of Charterhouse Group, Inc., today announced that it has completed the acquisition of Texas Land and Air (“TX L&A”), further strengthening Towne’s position as the nation’s largest privately held provider of premium air cargo ground logistics solutions.
Towne provides a wide range of freight services through a national network of sixty-one terminals throughout the United States, including nine new service terminals in the Texas market as a result of the TX L&A acquisition. Based in Dallas, TX L&A is a leading regional provider of air and ocean cargo land transportation solutions to international airlines and freight forwarders in the U.S. and Canadian markets.
“This acquisition fits very well with Towne’s build-up strategy and was sourced on a proprietary basis by Towne’s senior management, representing Towne’s third successful acquisition under Charterhouse’s ownership,” said William Landuyt, a Senior Partner at Charterhouse. “The Board of Towne, which includes Charterhouse Entrepreneurs Roger Gibson and Mike Wysocki, supports Towne’s plan to further expand upon its geographic footprint and service offerings to better meet the needs of the Company’s international customer base.”
“We are excited to extend Towne services to the Texas market and we welcome the Texas Land and Air associates and customers to the Towne family,” said Tom Downey, Towne’s President and CEO. “Our overlapping values of Customer Care leave a clear path to incorporating Towne’s nationwide Airport-to-Airport, local cartage, exclusive use trucking and warehouse services into the Texas market.”
Since January 2007, Towne has successfully acquired and integrated 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.
About Towne Air Freight
Towne Air Freight is a Charterhouse portfolio company headquartered in South Bend, IN, providing a wide range of air and ocean freight services through seventy terminal locations across the United States. The Company operates Towne Network Solutions and Rocket Expedited Services. Towne Network Solutions manages air freight trucking in North America for airlines and air freight forwarders and Rocket Expedited services offers expedited trucking, dedicated vehicles, reefers and other specialized trucking. Charterhouse and management together created the Towne platform in November 2005. For more information, please visit www.towneair.com.
About Texas Land and Air
Texas Land and Air is the leading provider of expedited air freight trucking for all Texas gateways, serving every major market in Texas. TX L&A offers air freight trucking for airlines and air freight forwarders, including statewide airport-to-airport service, time definite truckloads and local cartage. Through the intermodal division, TX L&A is a UIIA approved carrier providing expertise and knowledge of port and rail facilities in Texas, local and regional drayage in Houston and Dallas and CFS stations. For more information, please visit www.texaslandandair.com.
About Charterhouse Group
Charterhouse Group, Inc. is a private equity firm with over three and a half decades of experience in building leading middle-market companies. Established in 1973, Charterhouse has invested in excess of $2.0 billion in equity and established over 100 platform companies with a focus in the Business Services, Healthcare Services and Consumer Products and Services sectors. For more information on Charterhouse, please visit www.charterhousegroup.com.