TransForce buys Davis Transportation Services
The terms for the acquisition of Davis, known as DTS, were not disclosed. Davis, Marlborough, Massachusetts, provides driver staffing services in the New England states. TransForce, which indicated in a statement that it plans further acquisitions, offers nationwide driver staffing services from its Alexandria, Virginia headquarters.
The move represents the latest development in the ongoing, industry-wide effort to provide drivers at a time when trucking is at least 35,000 drivers short of full staffing and turnover is nearly 100% for truckload fleets of all sizes.
“DTS is a great addition to our company and a perfect fit in our acquisition strategy,” said David Broome, CEO of TransForce. “Both companies have had success in focusing on customer service and providing the best opportunities for our drivers.”
Broome told TT the acquisition of Davis will add 150 drivers to the current TransForce corps of 3,100. Including the acquisition, TransForce now has 48 offices nationwide.
The statement said Davis was recognized for a best in staffing award, given to just 2% of staffing agencies this year.
“Not only does TransForce mirror our quality business practices, they mirror our dedication to the transportation industry,” said Brendon Davis, President of DTS.
Broome said TransForce will “continue to seek acquisitions with like-minded companies such as DTS, that are market leaders in providing high-quality professional drivers to the industry.”
The Argentum Group, First Analysis, SunTrust Bank and Holland & Knight, provided financial and legal advice to TransForce, the statement said.