Since its founding in 1979, Pitt Ohio Express, Inc. has grown to be one of the best performing less-than-truckload (LTL) carriers in the USA. Under the guidance of Charles L. Hammel, III, the Company has grown to operate from 20 terminals with roughly 600 tractors, over 1,500 trailers and over 315 straight trucks providing services in the Midwest and Mid-Atlantic states to over 8,000 customers. Pitt Ohio has been a recipient of the American Trucking Association’s “President Trophy” award for more than a decade and is a perennial recipient of the “Quest for Quality” award from Logistics Management and Distribution magazine.

Since 1991, Source Capital, Ltd. has periodically provided services to Pitt Ohio on matters ranging from financing the growth and development of the company to arranging funding for shareholder liquidity.

In 2005, the Company wished to make a strategic acquisition by acquiring a controlling interest in ECM Transport, which provided dedicated long-haul services to customers. This strategic acquisition would provide Pitt Ohio with the ability to more efficiently balance loads between terminals while freeing-up the use of its capital equipment to better serve clients’ regional delivery needs. Once again, Pitt Ohio turned to Source to provide assistance, which included assistance with business valuation and due diligence, acquisition financing advice and transaction structuring assistance.

Since 1982, Source has provided growth strategy, and acquisition advisory and finance services to family-owned businesses. If you are considering a strategic acquisition, our services could add-value for your business.