Hub Group acquires Exel Transportation Services
Hub Group has purchased Exel Transportation Services (ETS) for $83 million. ETS is now a wholly-owned subsidiary of Hub Group, operating independently under the name Mode Transportation. According to Hub Group chairman & CEO David Yeager, Mode Transportation is the strongest third-party agent network in the industry, with a diverse portfolio of solutions, including temperature-protected services. Mode Transportation consists of about 300 IBOs who sell and operate the business throughout North America, corporate offices in Dallas and Memphis, a company-managed operation in Dallas and a temperature-protected services division, Temstar, in Lombard, Illinois. The company’s headquarters will remain in Dallas, Texas. Mode Transportation’s sales were approximately $717 million in 2010, of which intermodal revenue was $294 million, truck brokerage $279 million and LTL $85 million. Quelle: eyefortransport |