MGM Joins Group That Includes Caldwell Freight Lines and Foothills Trucking

July 4, 2007  by in UnCategorized   

By Home Furnishings Business in on July 2007 High Point-based MGM Transport, which delivers more than 24,000 pieces of furniture annually, announced Tuesday it has been acquired by CF Holding Group and will continue to operate as an individual operating company under its current management. Terms of the deal were not disclosed.

CF Holding Company, Lenoir, N.C., a subsidiary of Harbert Private Equity, is a furniture transportation group that includes Caldwell Freight Lines and Foothills Trucking. MGM Transport President Edward Massood said the deal will give MGM customers to a larger coverage area. “We are still individual operating companies (that) will continue to deliver transportation solutions and services to our respective customers,” Massood said. “The only change in that respect will be the seamless integration of extended coverage areas, a larger set of capabilities and services, continuity of IT networks and the financial stability of our combined resources.”

CF Chairman and CEO Dave Brenner said the deal positions CF to become the strongest specialized furniture carrier group in North America. “Our collective customers can expect seamless operations, more points of pickup and delivery, more warehousing and distribution, as well as a larger coverage map,” he said. “We really don’t see anything but a win-win.”