US drayage operator RoadOne IntermodaLogistics is building density in New England as well as strengthening its business at the New York and New Jersey ports by acquiring C&V Trucking, a container drayage company based in Milford, Connecticut.
The acquisition not only gives RoadOne terminals and drivers in all key markets in the Southern New England region, it helps the company get a jump on complying with a US electronic logging mandate for truck drivers that takes effect in December 2017.
RoadOne plans to have all of its more than 1,200 drivers and trucks ready for the mandate a year before the required deadline, the company said Tuesday. C&V’s Milford location will help the carrier get optimal utilization out of its truck fleet and comply with the rule.
“C&V's strategic location is essential to our ELD (electronic logging device) rollout in the Northeast," David McLaughlin, chief operating officer of RoadOne IntermodaLogistics, said in a statement. RoadOne is already installing ELDs and driver support systems.
RoadOne is likely not the only trucking operator that will look to reconfigure its network to ensure compliance with US truck driver hours of service rules as the electronic logging mandate looms. It may be the first to openly cite the ELD mandate as a factor.
“With the addition of C&V Trucking, we've bolstered our distribution network and drayage service capabilities in the Northeast,” said Ken Kellaway, CEO of RoadOne. The new acquisition adds about 30 trucks to RoadOne’s fleet. Terms of the deal were not disclosed.
RoadOne is one of several transportation companies using acquisitions to spur growth and build density in a weak freight market. Tritium Partners, an investment firm out of Austin, Texas, invested an undisclosed amount in RoadOne last year to finance expansion.
On Monday, truckload carrier CRST International announced the acquisition of California-based drayage and truckload operator Gardner Trucking. ArcBest subsidiary ABF Logistics recently acquired Logistics & Distribution Services, a dedicated trucking specialist.