Two of the largest auto transportation and logistics services have been combined to create a new industry leader.
On Monday, Aug. 10, Jacksonville, Florida-based Proficient Auto Logistics, Inc. announced it had agreed to acquire Hansen & Adkins, which is located in Los Angeles, for $130 million. Thje transactiion is expected to close later this month.
Proficient is the industry's second largest carrier and Hansen & Adkins is the third largest. In a statement, Proficient said the transaction will create "North America’s largest finished vehicle logistics platform with a network spanning the United States and Canada."
On a combined basis, Proficient said it expects to move more than 4 million vehicles annually across the North American automotive supply chain, including ports, plants, railheads, dealerships, rental and fleet locations, auctions, and other demand points. The combined company will operate more than 1,350 tractors and have more than 90 locations.
The addition of H&A’s U.S. and Canadian businesses will more than double Proficient’s owned fleet capacity, while incorporating over 900 experienced drivers, operational, and support management personnel into Proficient’s team, according to the statement.
The transaction marks Proficient’s expansion into the Canadian market, under the brand name MCL McGill, establishing it in the fuller North American new vehicle distribution supply chain.
“The combination of the two companies will create a stronger platform for sustainable long-term value creation built on proven leadership, operational discipline, and industry-leading capabilities,” said Richard O’Dell, Proficient’s chief executive officer. “The addition of Hansen & Adkins, a company highly aligned with our values, culture, and commitment to operational excellence, will establish Proficient as a stronger, more capable market leader that can invest at a scale few others can match.”
Hansen & Adkins was founded in 1994 by two auto transport industry veterans Steve Hansen and Louie Adkins.
“After more than 30 successful years as a founder-owned business, we are thrilled to partner with Proficient to bring about our next chapter of continued success," said Hansen.. "Joining Proficient will provide our team and our customers with even greater resources to serve those who have trusted and relied upon us for decades."
