Transportation group PTA Holdings plans to acquire a Midwestern intermodal trucking company, the company said July 22.
The unnamed acquisition target provides intermodal drayage services in Chicago and Milwaukee, Wis., PTA Holdings said in a statement.
The acquisition will open “new revenue streams” for PTA, said CEO Leonard Lewensohn and Vice president Timothy Norton.
"Integrating with rail and ocean business opens the door to new business opportunities that should be very benefitical to our existing customer base," Norton said.
PTA expects to complete the acquisition in the fourth quarter. The intermodal carrier has nearly $2 million in annual revenue, Lewensohn said.
PTA, founded in Nevada in 2005, has been expanding by acquiring small companies, targeting firms with $2 million to $20 million in annual sales.
In June 2012, PTA acquired Kingsley Logistics Group. The holding company acquired NortFord, an Iowa-based truckload operator and brokerage, in the fourth quarter last year.
In the first quarter, PTA launched Eggspress Transport, a niche refrigerated carrier handling eggs and other products. Acquisitions could expand that operation.