Overview:
Ace Doran has formed a partnership with NHH Services, an Indiana-based company, enabling the Ohio-based trucking firm to establish a new division complete with 50 trucks, drivers, and administrative staff, as stated in a recent press release.
Details of the Acquisition:
As part of this initiative, Ace Doran, which is under the Bennett Family of Companies, has acquired equipment from NHH Services and integrated personnel from the owner-operator trucking firm, according to the announcement made on Tuesday.
Strategic Expansion:
This development aims to bolster Ace Doran’s position in the heavy haul sector and enhance its capabilities in national transportation operations, as noted by President Jim Collins in a statement.
Industry Background:
The trucking industry continues to navigate the repercussions of a prolonged freight recession, which has resulted in numerous bankruptcies, mergers, and downsizing efforts.
Market Conditions:
Although flatbed spot rates are experiencing a surge, flatbed contract rates have been more indicative of the ongoing sluggish conditions in manufacturing, as explained by DAT iQ’s Principal Analyst Dean Croke in an interview with Trucking Dive.
Additional Services:
Ace Doran also offers dry van transportation for a range of products, including goods related to manufacturing, construction materials, and industrial components. This diversification aligns beneficially with the recent recovery trends in manufacturing.
Manufacturing Outlook:
The Institute for Supply Management has reported that the purchasing managers’ index for manufacturing has consistently remained above 52% in January and February, indicating a growth-oriented environment.
