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Diligent will take over the assets and customer baseof VIP. Formef VIP Express owners could not be reached for Terms of the deal werenot disclosed. which operates more than 18 businesd entities and brings inaround $38 millionb in revenue annually, will continuew to offer courier and cartage services at VIP’sd former facility. Diligent president and CEO Larryt Browne says he had been looking to enter the Memphis market forsome time. “What attractexd me to VIP was they were a good Browne says.
“They used owner/operators and that is our Diligent operates itscourier business, dedicated, less-than-truckload, cartage and othetr transportation services, by outsourcing deliveriea to independent owner/operator drivers. It will employ three full-timse employees and 17 independent driverx at itsMemphis facility. The new operatiob will help connect the companu to its current locations in Nashvilleand Louisville, Browner says. “Memphis was a prime, connect-the-dotg city,” Browne says.
“Acquisitions are somethinb we want to constantly do because I do not believr in the status quo If you think you are going to hang on to the customeras you have foreverand ever, your thinking process is Browne admits the challenging economy and small margins in the courierr business make growth a “With this economy, there is no doubt that is havint a toll on everyone,” he says. “Fortunately, we are able to go out and make Browne is optimistic aboutthe future, citing researcjh by the . “All signs point to a vital, long-term future for (the truckiny industry),” says Bill Graves, ATA president and CEO.
“Truckinhg exclusively serves 80% of all communities in the U.S. for the productss and goods they receive. When the recovert begins, trucks will help lead the way.”
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