E-commerce fulfillment provider Transportation and Logistics Systems (TLSS) (OTC: TLSS) announced plans to acquire logistics provider Cougar Express.
Cougar Express provides pickup, delivery and warehouse services through its facility in Valley Stream, New York. The company offers one- to four-person white-glove delivery service primarily in New York and New Jersey.
“We are very excited about the prospect of joining forces with the Cougar Express team, a profitable, family-run business with a successful 30-year history, diversified and loyal customer base and stellar reputation,” stated TLSS CEO John Mercadante in a press release. “We believe that this is an ideal complement to our current business and provides opportunity for organic expansion.”
The transaction is expected to close no later than Jan. 15, following satisfactory due diligence and TLSS obtaining deal financing.
Financial terms were not disclosed.
Jupiter, Florida-based TLSS provides logistics and transportation services through its two subsidiaries, Prime EFS and ShypDirect. Prime EFS is a provider of two-person last-mile home delivery and linehaul transportation for large retailers. ShypDirect offers delivery services with a fleet of tractors, box trucks and cargo vans throughout the Northeast.
“We were very impressed with TLSS’ executive and operational management team, as well as its future growth plans. A key factor was knowing that our valued customers and dedicated employees will be in excellent hands,” said Cougar Express President Rosemary Cerrito.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now