Cowan Systems Acquires Competitor Carlisle Carrier
BALTIMORE, MD - In a major move for the trucking industry, Cowan Systems acquired Carlisle Carrier Corp, bolstering its fleet to a total of 2,500 trucks. The two have long acted as competitors in the East Coast market, with Cowan Systems servicing the Mid-Atlantic and Northeast markets and Carlisle Carrier servicing grocery warehouses in the Northeast.
“They complement our network very well,” said Dennis Morgan, President of Cowan Systems, according to the Baltimore Business Journal. “We align cultures as good as you can ask for two different companies. There are lots of opportunity to grow through existing clients.”
According to Transport Topics, Carlisle Carrier employs more than 250 drivers and operates 1,000 trailers, which all will fall under Cowan’s fleet pending the transaction. In addition, Cowan will take on Carlisle’s terminals in Mechanicsburg and Bethlehem, Pennsylvania.
In terms of sales, Cowan is expecting to add $60 million to its bottom line following the acquisition—the transportation operator made $550 million in sales last year, Morgan noted. Overall, Cowan expects to continue to grow following its second acquisition in the last three years, as reported by the Baltimore Business Journal.
“The northeast has the most trade volume in the country, so we have an invitation to most bids,” Morgan continued. “We don’t win them all, but we get included and as long as we’re competitive price-wise, we have a shot.”
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