Magnate Worldwide Acquires Premium Transportation, LLC
Oakbrook Terrace, Illinois, March 27, 2017 -- Premium asset-light logistics company Magnate Worldwide (MWW) has acquired Toledo-based Premium Transportation, LLC (PTL) in a move that expands the service offerings of both companies.
Acquiring Premium Transportation, LLC "offers us the unique opportunity to grow our expediting business throughout North America," said Mike Welch, President of MWW North America. "Their 24-hour operations team and impressive fleet of trucks, mainly independent owner operators ranging from cargo vans to tractor trailers, will help us gain an even greater geographical footprint to handle our customers' time-sensitive and critical shipping needs."
The acquisition is equally exciting for PTL. "It gives us the ability to grow our customer base for expedited shipping as well as offer new services," said Dave Swartz, President of PTL. "As we join forces with Magnate's full portfolio of logistics companies, we can now offer services like domestic freight forwarding with TrumpCard, LLC and international shipping with Somerset Marine Lines."
The two companies will continue to benefit from the experience and leadership of John Mueller. Mueller, who previously served as CEO of PTL, will start a new company, The Transportation Station. In this role, he will primarily consult with carriers, including MWW and PTL, on compliance and safety.
About Premium Transportation, LLC
Founded in 2002 in Toledo, Ohio, Premium Transportation, LLC (PTL)-with its operating subsidiaries Premium Transportation Logistics, LLC and Premium Freight Management, LLC-provides quality transportation solutions, including expedite, truckload, flatbed, dedicated business, air charters, and air freight. With a team on call 24-hours a day, the company specializes in expedited shipping. Its mixed fleet includes both company drivers and owner-operator independent contractors, enabling them to customize solutions for each unique client.
About Magnate Worldwide
With a strong capital position, seasoned management team, and skilled operational and customer service talent, Magnate Worldwide (MWW) is building a premium transportation and logistics provider. MWW focuses on asset-light premium logistics and seeks to partner with best-in-class companies that operate in the international freight forwarding and North American premium transportation markets. Find out more at www.magnateworldwide.com.