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Starting with just a handful of trucks and one service center in Phoenix, Arizona, the company now runs a fleet of over 4,000 trucks and more than 8,700 trailers (dry, refrigerated, and brokerage). Revenues have grown from over 13 million in 1991 to over $866 million in 2011, with operating ratios at or near 80% year after year.
Covenant began operations on January 2, 1986, [2] by founders David and Jacqueline Parker, with 25 trucks and 50 trailers. The company now jointly operates over 3,000 trucks and 7,000 trailers with sister companies Southern Refrigerated Transport, Inc. (Texarkana, Arkansas), Star Transportation Inc. (La Vergne, Tennessee) and Landair Transportation, Inc. (Greeneville, Tennessee).
Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing that has operations in North America, South America, Europe, and Asia. Penske Logistics provides supply chain management and logistics services such as dedicated carriage, distribution center management, transportation management, lead logistics, supply chain consulting, and freight brokerage services.
Those assets were rolled into Moyes's small Central Freight Lines out of Texas, and later spun off as the separate entity Central Refrigerated Service, which remained wholly owned by Moyes until its subsequent sale to and merger with Swift. [citation needed] That sale was announced in summer 2013, [11] and the merger completed on February 1 ...
On February 25, 2019 The Wall Street Journal reported the company's acquisition of Preferred Freezer Services LLC., its largest competitor, in a deal reportedly worth over $1 billion, expanding Lineage to the world's largest facility network, with 1.3 billion cubic feet of storage in over 200 facilities across the United States, Europe, and Asia.
In 2015, the company connected its shipping and logistics services to expand into less-than-truckload markets; it acquired the company Freightquote, a privately owned online transportation broker. [25] [30] C.H. Robinson acquired Prime Distribution Services on January 28, 2020, for $225 million. [31]
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