Date
Sep 2020
Region
Missouri
We are pleased to announce the sale of Double VV’s intermodal division to International Express Trucking. The acquisition closed September 18, 2020 and details were not disclosed.
International Express’ acquisition of Kansas City based Double VV Inc. adds seven employees and 50 triaxle chassis to its fleet of 125 chassis. It also makes International Express the local container depot for Geneva-based Mediterranean Shipping Co.
International Express Trucking (IXT) is a certified woman-owned business started by Karen Duff, CEO and owner of International Express Trucking. The company ranks No. 18 on the Kansas City Business Journal's Logistics Companies List.
"With the purchase of the intermodal division of Double VV, we will be able to expand our footprint and that is something that has been talked about for a long time," Duff said.
"This also is going to offer flexibility to our customers. It was the right time because of the leadership I have on my team. I firmly believe that opportunity is everywhere and at IXT we live in the land of possibility."
Generational Equity Executive Managing Director of M&A - Central Region, Michael Goss, and his team, led by Sr. Vice President Mergers & Acquisitions, Chris Gain, with support from V.P. Mergers & Acquisitions, Jacob Mangalath, successfully closed the transaction. Senior Managing Director David Pickard established the initial relationship with Double VV.
"Finding a group that would maintain the well-established high standards of the Company and its commitment to customers and employees was of the highest importance to the owner of Double VV," said Gain.
"Karen Duff and her team at IXT, having an excellent reputation and being Kansas City-based, were a perfect fit."
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Business Services M&A Deals page.
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