Bulova Technologies Group Inc (BTGI) has announced the completion of its acquisition of Big Red LTL Transport Inc, a New Jersey-based trucking company with 38 refrigerated trailers, 27 trucks, and 38 customers with hubs in both Netcong NJ and Chicago IL.
The purchase was financed by Peoples Bank, a new lender to the company.
Stephen L Gurba, president and chief executive officer of the company, said, “This acquisition is an important addition to the growth of Bulova Technologies’ family of transportation companies. Our transportation companies will now serve additional regions to complement our strong Florida presence. Big Red should increase our overall sales by $12 million annually. Our transportation business should now increase in our fiscal 2018 to well over $40 million in sales annually. We continue to look for strategic acquisitions in the transportation business.”
Bulova Technologies Group Inc, Bulova Technologies Europe LLC, Bulova Technologies Machinery LLC, Bulova Technologies Finance LLC, BT-Twiss Transport LLC’s and Big Red LTL Transport Inc headquarters are all in Largo FL.
Go to www.bulovatechgroup.com for more information.