Investments

Funding agency takes stake in Paper Transport

Trucking information and briefs for Wednesday, July 21, 2021:

Paper Transport companions with funding agency

Sam Zell’s non-public funding agency Fairness Group Investments (EGI) lately invested in Paper Transport (CCJ High 250, No. 112). EGI is partnering with Paper Transport’s senior administration staff, who will proceed to guide the enterprise and retain an possession stake within the firm.

The partnership gives extra capital for add-on acquisitions and strategic assist for the group’s rising truckload, intermodal and truck brokerage choices. EGI President Mark Sotir, Managing Director Evan Harwood, Advisor Rob Silberman, and Senior Affiliate Tyler Goldstein are becoming a member of the De Pere, Wisconsin-based truckload fleet’s board of administrators. 

“We’ve been impressed with Paper Transport’s administration staff, who’ve demonstrated a capability to develop, innovate and diversify the enterprise throughout their tenure,” Sotir stated. “Certainly one of our strengths is aligning with like-minded companions. EGI’s deep expertise within the transportation business and monitor report of scaling companies, coupled with Paper Transport’s skilled management staff and development mindset, makes this partnership a win-win.”

Paper Transport was named a CCJ Innovator final yr.

“After 30 years of regular development, our partnership with EGI will speed up our technique,” stated Jeff Shefchik, president of Paper Transport. “EGI has a historical past of doing issues otherwise than what {the marketplace} has carried out – we imagine that very same technique is what has led to Paper Transport’s success previously. We imagine partnering Paper Transport with EGI will enable us to outpace the business in each innovation and development.” 

New nonprofit varieties to assist recruit trucking’s subsequent technology

A lately launched nonprofit, The Subsequent Technology in Trucking Affiliation, is partnering with colleges to offer CDL driver and diesel technician applications for younger adults in Kentucky, Wisconsin and California.

The group was began by leaders within the trucking business to have interaction the subsequent technology of trucking business professionals by partnering with each private and non-private colleges and neighborhood/technical schools to provide coaching alternatives that may ultimately result in jobs. 

“Applications like this one are crucial sport changers for not solely growing a talented workforce but additionally creating pathways for that expert workforce to advance of their careers within the trucking business,” stated Lindsey Trent, Ryder Buyer and Enterprise Growth Supervisor and co-chair of Subsequent Technology in Trucking. “We’re keen to coach, mentor and match a recent technology of drivers to the twenty first century wants and calls for of the trucking business.”

The Subsequent Technology in Trucking Affiliation goals to deliver new drivers to the business whereas on the similar time offering entry to well-paying careers to college students with out the necessity to incur school debt. Their objectives of the group are to:

  • Promote trucking as a optimistic profession area
  • Encourage the coaching and employment of younger folks within the trucking business
  • Promote their training and join them to coaching and employment alternatives
  • Create a various, equitable and inclusive workforce in communities nationwide

The Subsequent Technology in Trucking Affiliation companions with colleges across the nation to launch CDL applications that match their wants. Latest partnerships embrace Lawrence County Excessive College in Louisa, Kentucky; Jessamine Profession and Expertise Heart, Nicholasville, Kentucky; Fairdale Excessive College, Louisville, Kentucky; and Lux-Casco, Luxemburg, Wisconsin.

The Subsequent Technology in Trucking Affiliation has been permitted by the U.S. Division of Labor as a Nationally Registered Apprenticeship Program for CDL Driving. 

Benore purchases first EV truck

Benore lately bought its first Peterbilt 579EV.Benore Logistic Methods (CCJ High 250, No. 144) lately introduced the acquisition of its first Peterbilt 579EV to be added to its fleet.

Throughout an occasion on the firm’s Greer, South Carolina, headquarters, Jeffery Benore, President and Proprietor, introduced the implementation of an electrical fleet. The objective is so as to add 50 electrical class 8 tractors over the subsequent two to a few years and to transform half of the complete fleet over the subsequent 5 to 10 years to electrical items.

By implementing an electrical fleet, Benore will be capable to scale back its carbon dioxide output by one metric ton for each 100 gallons of gasoline saved, the corporate stated.

Kenworth provides Hendrickson suspension choice

Kenworth is now providing the Hendrickson Haulmaax EX as an choice for the Kenworth T880, W990, T680 and T480 fashions.

The Hendrickson next-generation heavy-duty light-weight rubber suspension is designed for vocational functions akin to dump, concrete mixer, refuse, logging, crane/increase, platform, and hearth/rescue. The brand new suspension replaces the Hendrickson Haulmaax household of 40,000- and 46,000-pound capability suspensions and in addition provides a brand new 52,000-pound capability.

Along with the elevated capability vary, the Haulmaax EX gives a better web site ranking and maintains the identical weight and sturdiness in comparison with its predecessor. The suspension makes use of a singular rubber spring design that balances empty-ride high quality and loaded stability. Angled bolster springs and a singular progressive load spring present further stability for demanding functions akin to refuse, concrete mixers and dumps. 

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