The Roadmaster Group, Inc.and Tri-State Motor Transit Co. jointly announced they have reached an agreement in principle for Roadmaster to purchase some assets from Tri-State.
The two companies say they expect to close the transaction as promptly as possible. In the meantime, Tri-State will continue to operate its business as usual, and the companies expect to coordinate on the transition.
Price and terms of the transaction are not being disclosed.
“We look forward to finalizing the deal and then welcoming Tri- State’s professional drivers and staff to the Roadmaster family,” said Roadmaster’s CEO John Wilbur. “We are honored to be associated with the proud tradition and legacy that Tri-State has established over the past several decades serving the high security transportation requirements of both government and commercial shippers. This transaction will position Roadmaster as the leading transporter of sensitive cargo for the US Department of Defense and the US Department of Energy.”
Tri-State’s CEO Glen Garrett said, “We have known John and the Roadmaster team for several years and are very pleased to be able to announce our plans. I am confident that Tri-State’s incredible professional drivers, staff and customers who join Roadmaster will be completely satisfied once this transaction is consummated. Tri-State has a very long, proud and honored position in this industry, and I am confident this legacy would be in good hands with Roadmaster.”
The Roadmaster Group, Inc. is based in Glendale, Arizona and Tri-State Motor Transit Co. is based in Joplin, Missouri.