Celadon purchases assets from Hiner
06/18/2012 - 7:57:26 am
According to Hiner Transport, Indianapolis-based Celadon has purchased a “significant portion” of Hiner’s equipment. Terms were not disclosed.
“When we make an acquisition, we buy the tractors and then sell them off as quickly as we can,” Celadon CEO Steve Russell told the Journal of Commerce in an interview earlier this year. “We then take over the customer base and hire the drivers who meet our qualifications.”
Hiner operates a yard and office in Huntington, IN, and a small crossdock on the south side of Indianapolis. Hiner is owned by Service First Corp., which bought the family-owned company in 2007. According to the Hiner website, the company operates about 200 tractors in regional and long-haul service.