CRST International Inc. of Cedar Rapids, Iowa, issued this news release today:
CEDAR RAPIDS, Iowa (May 1, 2013) – CRST International, Inc., one of the largest transportation companies in the United States, today announced the acquisition of Allied Special Products Division of Allied Van Lines, based in Fort Wayne, Ind. The company specializes in moving high value products including motorcycles, medical products and office equipment.
The acquisition complements STI (Specialized Transportation, Inc.), which CRST purchased in 2011. STI is a leading provider of specialized van transportation, trade show support, first- and final-mile logistics, white glove moving services, transportation management, warehousing and home ! delivery services. It serves customers in the technology, healthcare, industrial, furniture, store fixture, telecommunications and financial services markets. Together, STI and Allied Special Products Division have the most extensive network of specialized distribution centers in North America. With the acquisition of Allied Special Products, STI’s 2013 revenue 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 STI president Andrew Hadland. "For CRST and STI it means improved fleet utilization, greater network density and increased operating efficiencies." CRST International is one of the largest specialized trucking companies in the United States, with 2013 projected revenues to exceed $1.4 Billion. It currently employs more than 4,400 company drivers and office personnel, and an additional 2,500 independent contractors across the United States. With this acquisition, CRST continues its aggressive growth strategy. In the past two years, CRST has acquired STI and Allied Special Products as well as launched a Temperature Controlled Team Service offering.