Covenant Logistics
{{Short description|American shipping company}}
{{Infobox company
| name = Covenant Logistics Group, Inc.
| logo =
| former_name = Covenant Transport, Inc.
| type = Public
| traded_as = {{NYSE|CVLG}}
Russell 2000 Component
| foundation = {{start date and age|1986}}, in Chattanooga, Tennessee
| founder = David Parker
| location = Chattanooga, Tennessee
| area_served = USA and Canada
| industry = Transportation
| homepage = {{url|http://ctgcompanies.com/}}
}}
Covenant Logistics Group, Inc. (formerly Covenant Transport, Inc.) is an American company focused on truckload shipping. The company is headquartered in Chattanooga, Tennessee and is publicly traded on the New York Stock Exchange. The company provides temperature controlled trucking, regional delivery, and longhaul team driver delivery.{{cite web |url=https://www.covenanttransport.com/customers/ |title=Services |publisher=Covenant Transport |access-date=2007-11-13}}
History
Covenant began operations on January 2, 1986,{{cite web |url=https://www.covenanttransport.com/history |title=Covenant Transport - History |work=Covenant transport web site}} by founders David and Jacqueline Parker, with 25 trucks and 50 trailers. The company now jointly operates over 3,000 trucks and 7,000 trailers with sister companies Southern Refrigerated Transport, Inc. (Texarkana, Arkansas), Star Transportation Inc. (La Vergne, Tennessee) and Landair Transportation, Inc. (Greeneville, Tennessee).{{citation needed|date=December 2007}} The four companies have shared terminals in Chattanooga, Hutchins, Texas, Pomona, California, Texarkana, Arkansas, La Vergne, Allentown, Pennsylvania, Orlando, Florida, and Greenville.
In addition to the four asset-based companies, CTG owns a freight brokerage company, Covenant Transport Solutions, and an accounts receivable factoring company for smaller trucking companies, Transport Financial Solutions, both based in Chattanooga.{{citation needed|date=October 2014}} CTG has a 49% stake in Transport Enterprise Leasing, a tractor and trailer leasing company that caters to smaller fleets and captive owner-operator programs, in addition to used tractor and trailer sales.
Acquisitions
In July 2018, Covenant Logistics (Covenant Transport at the time) acquired Landair Holdings Inc., the parent of Landair Transport and Landair Logistics. {{Cite web |date=2018-07-06 |title=Covenant Transport Services Acquires Landair Holdings |url=https://www.ttnews.com/articles/covenant-transport-services-acquires-landair-holdings |access-date=2023-10-25 |website=Transport Topics |language=en}}
In April of 2023, Covenant Logistics acquired Lew Thompson & Son Trucking, Inc..{{Cite web |last=Rosa |first=Jeff Della |date=2023-05-01 |title=Covenant buys Lew Thompson & Son Trucking for $100 million |url=https://talkbusiness.net/2023/05/covenant-buys-lew-thompson-son-trucking-for-100-million/ |access-date=2023-10-25 |website=Talk Business & Politics |language=en-US}} Lew Thompson & Son Trucking is based out of Northern Arkansas and specializes in live haul transportation. {{Cite web |date=2023-04-27 |title=Covenant Logistics Completes Acquisition Of Arkansas Trucking Firm |url=https://www.chattanoogan.com/2023/4/27/468102/Covenant-Logistics-Completes.aspx |access-date=2023-10-25 |website=www.chattanoogan.com |language=en}}
Renaming
Following its acquisition of Landair Holdings, the company re-named itself from Covenant Transport to Covenant Logistics.{{cite web |url=https://www.greenevillesun.com/business/local_business_news/covenant-logistics-announces-new-website-rebranding-effort-complete/article_8d277a4f-d784-51fb-a09b-9b397c17d222.html |title=Covenant Logistics Announces New Website, Rebranding Effort Complete |publisher=The Greeneville Sun |date=October 7, 2021}}
References
{{Reflist}}
External links
- [http://www.ctgcompanies.com/ Official Website]
- [https://truebook.io/ Logistics Software]
{{Trucking industry in the United States}}
Category:Companies listed on the New York Stock Exchange
Category:Companies formerly listed on the Nasdaq
Category:1986 establishments in Tennessee
Category:Transport companies established in 1986
Category:Trucking companies of the United States
Category:Companies based in Chattanooga, Tennessee
Category:Transportation companies based in Tennessee