Estes Express Lines (No. 12 in the CCJ Top 250) has submitted a bid of $15 million to acquire certain assets of Eastern Freightways and Carrier Industries. If successful, the transaction would expand Estes’ flatbed and dedicated transportation solutions through its Level2 Logistics division. Eastern Freightways and Carrier Industries are divisions of New England Motor Freight, which ceased operations after filing for Chapter 11 bankruptcy in February 2019.
The proposed transaction does not involve the acquisition of real estate, but includes all of Eastern’s rolling stock, including certain rolling stock of New England Motor Freight currently used by Eastern. There is a scheduled court hearing for May 16 to approve the final winning bid.
“We’re seeking steady growth of our flatbed truckload capabilities,” said Bobby Speight, corporate vice president of Estes Level2 Logistics. “If our bid is successful, the transaction would support this vision.”