The deal is expected to close at the end of July subject to final due diligence.
“Combining Cougar Express and JFK Cartage should generate significant revenue enhancement, operational efficiencies and cost savings, while providing us with a larger and much more functional facility,” Sebastian Giordano, chairman and CEO of TLSS, stated in a press release.
Founded in 2008, JFK Cartage provides warehousing, cross-docking, pickup and delivery, and general trucking services out of a 30,000-square-foot facility located near the airport, which is a major import-export gateway. The company specializes in air and trade show freight. Its fleet ranges in size from sprinter vans to tractors moving 53-foot trailers. JFK Cartage’s customer list includes 95 commercial accounts as well as residential customers, to which it provides final-mile delivery.
JFK Cartage is “believed to be one of the largest leading cartage agents serving the New York Tri-State area,” the announcement read.
“This JFK Cartage acquisition, if closed when expected, would dovetail very well with Cougar’s upcoming space requirements, as Cougar is scheduled to vacate its current premises no later than September 30, 2022.”
