Sunteck-TTS merger deal closes

by Inside Logistics Online Staff

JACKSONVILLE, Florid. & DALLAS, Texas—The merger between Sunteck and TTS, LLC, announced on October 23, 2016, has officially closed.

The resulting company will be one of the largest multimodal, agent-based freight management service providers in the US, approaching US$1 billion in gross revenue, and managing more than 700,000 intermodal, truckload and less-than-truckload shipments annually.

Operating under the name SunteckTTS, the entity’s 200-plus agents and wide-ranging customer base will now source increased capacity through a combined network of more than 30,000 carriers.

In addition to its non-asset capabilities, SunteckTTS will have a combined 2,000 truck fleet in its direct asset-light capacity division. The existing direct rail intermodal program from TTS, with access to more than 200,000 pieces of equipment, will be enhanced by the large intermodal drayage network from Sunteck.

This capacity will become critical as driver shortages and industry consolidation continues, enabling the new entity’s agents to better service their customers and provide long-term service commitments.

Harris Williams & Co. served as the financial advisor to Sunteck on the merger. Stifel served as the financial advisor for TTS.