Bennett Motor Express announced this week it has completed the asset purchase of Cincinnati-based Ace Doran Hauling & Rigging Co., a family owned and operated transportation company that has served the shipping public since 1913. The terms of the transaction were not disclosed.
The acquisition is the largest in the history of Bennett Motor Express, which started with five trucks and two customers in 1974. Bennett Motor Express is the largest of the seven operating companies within Bennett International Group of McDonough, Ga.
“Our decision to buy Ace Doran is consistent with our strategy of prudent growth,” said David Lowry, vice president of Bennett International Group and CEO of Bennett Motor Express.
Lowry, who is also a senior member of OOIDA, said that Ace Doran’s fleet of flatbeds, step decks and RGNs will complement Bennett’s fleet. The addition of Ace Doran’s 200 independent owner-operators increases Bennett’s fleet by 25 percent to more than 800 trucks.
Ace Doran LLC’s day-to-day operations will continue from its Cincinnati headquarters, with former owner Dan Doran joining Bennett and retaining the title of president. The intention of Bennett’s leadership is to keep intact the structure and processes that have made this 100-year-old company a success.
“We are excited to have joined a larger, financially strong company and be continuing our century of service,” said Doran. “I am proud of my family’s heritage and the efforts of all of our employees, past and present, who have made Ace Doran what it is today.”
Courtesy of Landline Magazine
|< Prev||Next >|