CRST International acquires special products division of van company
STI's revenue this year is projected to exceed $250 million
Cedar Rapids-based transportation company CRST International has acquired the special products division of Allied Van Lines.
Allied Van Lines, based in Fort Wayne, Ind., specializes in moving high value products including motorcycles, medical products and office equipment.
Terms of the transaction were not disclosed.
According to CRST, the acquisition complements Specialized Transportation Inc., which CRST purchased in 2011. STI provides specialized van transportation, trade show support, transportation management and home delivery, among other services.
With the acquisition of the Allied Special Products Division, STI's revenue this year is projected to exceed $250 million.
"The acquisition of Allied Special Products Division will enable STI to further develop its distribution center network and provide better service and faster transit to its customers," said Andrew Hadland, STI president. "For CRST and STI it means improved fleet utilization, greater network density and increased operating efficiencies."
CRST International's projected revenues this year are expected to exceed $1.4 billion. The company employes more than 4,400 company drivers and office personnel and 2,500 independent contractors across the country. The truckload carrier provides transportation solutions including van and flatbed services and transportation management.