LOS ANGELES, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Total Transportation Services, a leading provider of drayage and over-the-road trucking services is pleased to announce the acquisition of Tri Pak (“Tri Pak”), a transloading, warehousing, and logistics company which has been servicing clients around the Port of Tacoma for over three decades.
The acquisition expands TTSI’s geographic footprint from Southern California, Stockton and Virginia to the Pacific Northwest. Tri Pak provides transloading, value-added warehousing, drayage, long-haul and brokerage trucking services. With Tri Pak servicing clients from six facilities in the state of Washington, this expands TTSI’s services and capabilities in one of the most important logistics markets in North America. Tri Pak will operate as a subsidiary of TTSI, and the existing management will remain in place.
“Since late 2018, TTSI has been focused on consolidation opportunities, where we can partner with good companies with strong management teams allowing us to either diversify our service offerings or expand our geographic footprint to better serve our existing customers,” stated Vic La Rosa, TTSI’s Chief Executive Officer. “Tri Pak represents the first strategic acquisition we have made in 2019, and we continue to actively review and pursue other strategic acquisition opportunities. We are very excited to welcome Tri Pak to the TTSI family. This acquisition expands our presence into the Washington market where we can now service TTSI’s existing clients out of the Ports of Seattle and Tacoma.”
RJM & Co. (rjm-co.com) served as exclusive financial advisor and Eisenhower Carlson (www.eisenhowerlaw.com) to Tri Pak TTSI (ttsi.com) was assisted by its equity partner, Afamia Financial (afamiafinancial.com). DLA Piper (www.dlapiper.com) served as TTSI’s legal advisors on the transaction.
About Total Transportation Services
TTSI is a leading provider of logistics services with distinct expertise in distributing imports within the US and Canada. The company is headquartered in Southern California and also has operations in Northern California, Virginia and Seattle.
About Tri Pak
Tri Pak is a transloading, warehousing facility for bulk grains, bulk aggregates, refrigerated product, food-grade product, lumber, building material, steel and various commodities passing through the Ports of Tacoma and Seattle.