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Tim Estenson and Paul Truman have Approved the Acquisition of Estenson Logistics by the Hub Group
Estenson Logistics, a premier dedicated logistics provider has been acquired by Hub Group in an announcement made by Tim Estenson earlier today.
Hub Group is one of the largest transportation companies in the industry. Founded in Hindsdale, IL in 1971, they provide multi-modal solutions throughout North America, including intermodal, truck brokerage and logistics services. Though a publicly traded company on the NASDAQ (HUBG), the company is still controlled and operated by David Yeager, son of its founder Phillip Yeager.
The decision was made after some very long and careful deliberation by Tim and Paul. In a statement made by Tim, he states "this is a very exciting time for Estenson. We’ve been fortunate to be able to grow this family to the size it is today thanks to the commitment and hard work that we’ve built together. We are going to take that to the next level to drive a truly successful new chapter of our life and I’m committed to it personally."
John Vesco, the Executive Vice President of Hub Group & President of Hub Group Trucking, was also in attendance during the announcement and said the following "What I saw in our two organizations was a commitment to safety, a commitment to service, a commitment to operational excellence, and most importantly, a commitment to the individual. No company is better than the individuals they have and we as leaders have to support individuals to be successful and that culture will continue as Estenson joins the Hub Group."
The core operation and culture which defines Estenson Logistics will not be changing. Our headquarters will continue to be the Mesa Support Center in Mesa, Arizona. We will continue to provide the same award-winning dedicated logistics and transportation services to our partners as we always have with more opportunities to explore new markets.
The scheduled effective date of this transition is July 1st, 2017. This acquisition is poised to make Estenson Logistics a much stronger company by providing additional transportation capabilities that we have not yet explored. The decision was made as a part of Tim’s aggressive growth strategy over the last two decades that has made this company the size it is today. We are very optimistic about our future and look forward to the new and exciting growth that awaits us.