Business
Next10, Inc. Plans to Acquire Two Privately Held Boise, ID Transportation Freight Hauling-related Companies
Next10, Inc. Plans to Acquire Two Privately Held Boise, ID Transportation Freight Hauling-related Companies.
About this update from Next10, Inc.
[{"type":"text","content":"\n\n\n\nNext10, Inc. Plans to Acquire Two Privately Held Boise, ID Transportation Freight Hauling-related Companies\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNext10, Inc. Plans to Acquire Two Privately Held Boise, ID Transportation Freight Hauling-related Companies\nPR Newswire\nLAS VEGAS, July 9, 2020\n\n\n\nLAS VEGAS, July 9, 2020 /PRNewswire/ -- Ultimate Holdings Corporation, (Next10, Inc., dba Ultimate Holdings Corporation), (USOTC PINK: NXTN), (\"UHC\"), is pleased to announce that on, or about, August 1, 2020, UHC plans to acquire two privately held Boise, Idaho transportation freight hauling-related companies: Ultimate Logistics, LLC and Ultimate Innovations, LLC. Following the transaction, when consummated, each LLC would be a wholly owned subsidiary of UHC.\nAs part of this purchase, UHC would be acquiring approximately 80 newer model semi-tractors and approximately 85 newer model 53' refrigerated trailers.\nThe two companies being acquired had a combined gross revenue of more than $17,500,000.00 for 2019. Despite the uncertainties caused by COVID-19, both companies have remained profitable during 2020.\nThe existing management and the existing phenomenal Ultimate Teams for the two companies will remain on board. Management of the companies being acquired are looking forward to a strategic partnership with UHC. \"The trucking industry has experienced challenges in being able to hire new drivers and retain drivers. We do not have that challenge. We have proudly invested in our drivers, carriers, and infrastructure to profitably build our businesses. We are excited that UHC supports our unique, one-of-a-kind approach.\"\nUltimate's extraordinary Lease-To-Own Program, along with the fact the two companies are somewhat recession proof, (since the majority of the loads hauled by Ultimate are refrigerated, or frozen food products), is paving the way for many more years of continued growth, prosperity, and success.\nThe best is yet to come.\nSafe Harbor Statement: This Press Release contains forward-looking statements within the meaning of Section 27A of the...