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 Nasdaq (NASDAQ: CVLG). The company provides temperature controlled trucking, regional delivery, and longhaul team driver delivery.[1]
 | |
| Formerly | Covenant Transport, Inc. |
|---|---|
| Company type | Public |
| Nasdaq: CVLG Russell 2000 Component | |
| Industry | Transportation |
| Founded | 1986, in Chattanooga, Tennessee |
| Founder | David Parker |
| Headquarters | Chattanooga, Tennessee |
Area served | USA and Canada |
| Website | ctgcompanies |
History
editCovenant began operations on January 2, 1986,[2] 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] 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] 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
editIn July 2018, Covenant Logistics (Covenant Transport at the time) acquired Landair Holdings Inc., the parent of Landair Transport and Landair Logistics. [3]
In April of 2023, Covenant Logistics acquired Lew Thompson & Son Trucking, Inc..[4] Lew Thompson & Son Trucking is based out of Northern Arkansas and specializes in live haul transportation. [5]
Renaming
editFollowing its acquisition of Landair Holdings, the company re-named itself from Covenant Transport to Covenant Logistics.[6]
References
edit- ^ "Services". Covenant Transport. Retrieved 2007-11-13.
- ^ "Covenant Transport - History". Covenant transport web site.
- ^ "Covenant Transport Services Acquires Landair Holdings". Transport Topics. 2018-07-06. Retrieved 2023-10-25.
- ^ Rosa, Jeff Della (2023-05-01). "Covenant buys Lew Thompson & Son Trucking for $100 million". Talk Business & Politics. Retrieved 2023-10-25.
- ^ "Covenant Logistics Completes Acquisition Of Arkansas Trucking Firm". www.chattanoogan.com. 2023-04-27. Retrieved 2023-10-25.
- ^ "Covenant Logistics Announces New Website, Rebranding Effort Complete". The Greeneville Sun. October 7, 2021.