GridKor acquires 35 semi-trucks, creating a new division: GridKor Trucking & Logistics
Updated: Mar 29
December 13th, 2022
On December 7th, a deal was finalized for GridKor to acquire a trucking and logistics company inclusive of 35 trucks, routes, and drivers spanning across five corporations.
Negotiations of this first deal, in collaboration with management partners, began on September 1st and officially closed on December 7th.
The official purchase price of the acquisition was not disclosed. This acquisition will add over $20m in revenue for GridKor.
Management and operations of the trucks will be taken care of by an operating trucking management team that will work together with the GridKor team to ensure consistent and scalable operations. For the time being, the name of the management company has not been disclosed.
"In just a few short months, these guys have gone from prospects, to business partners, to friends. We couldn't be more satisfied with the partners we've put in place to handle the day-to-day operations of our trucking sector."
- Paul Tobin Vice President of GridKor
This acquisition marks the start of GridKor's "1000 Days of Trucks", the three year plan to acquire 1,500 trucks, drivers, and routes in 1000 days or less.
"Throughout our years in different fields, everyone here at GridKor is aware of the challenges and rewards of scaling. At first it sounded like a crazy idea, but as we were making this first purchase, deals began to line up. Three years to get to 1000 trucks was the original goal set, but I'm confident and ready to do what it takes to do it quicker than that."
- Michael Bryant President of GridKor
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