Clay's Transport, Inc. (CTI), and Clays Logistics LLC have been acquired by P&S Transportation, LLC, a subsidiary of PS Logistics.
CTI is a provider of general freight and diesel repair services for dry van, flatbed, and heavy haul, while sister company Clays Logistics offers full-scale third-party (3PL) freight delivery brokerage services.
The two companies also offer an on-site, full-service mechanic shop from its facility in Brookhaven, Mississippi.
Both CTI and Clay’s Logistics were owned by Reed Capital Investors and James Waldrop.
Founded in 2004 and headquartered in Birmingham, Alabama, P&S Logistics is one of the largest and fastest-growing flatbed transportation and multi-modal logistics providers in the US.
It offers provides full-service transportation services, including asset-based transportation, non-asset-based transportation, brokerage, third-party logistics managed transportation, warehousing, and supply chain services. This hybrid model delivers optimal flexibility to address customer transportation needs across various industries throughout the United States.
“Clay’s brings great freight synergies to both our companies as well as our customers,” stated Scott Smith, the Chief Executive Officer of PS Logistics. “It also further establishes our driver base in the Southeast and adds our first trucking terminal in Mississippi to our growing national network.”
Organizationally, CTI will be managed by James Waldrop as a separate division of P&S Transportation under the leadership of Houston Vaughn, the President and Chief Operating Officer of P&S Transportation. CTI will continue to operate under the Clay’s Transport brand name.
“P&S will be a great partner for our business,” Waldrop explained. “Both of our companies are committed to our drivers and their success, and we share a positive culture that creates an ideal environment for everyone to grow and prosper.”
The CTI acquisition continues PS Logistics’ acquisition strategy of partnering with families and owners within the flatbed trucking segment. Since 2016, PS Logistics has successfully acquired 26 trucking and brokerage operations.
Generational Capital Markets’ Senior Managing Director, M&A, Chris Heckert, with the support of Vice President, M&A, Nydia Blanco successfully closed the deal.
“I look forward to seeing how this acquisition allows Clay’s Transport and Clays Logistics to grow and expand in their region and was happy to help facilitate another sale for Reed Capital Investors,” said Heckert.
“We are excited to have another successful exit,” added Bernie Reed, owner of Reed Capital Investors. “We have another company seeing very strong growth and are under letter on our next holding. The future looks very bright.”