ContainerPort Group announced that its parent, World Group, has acquired Dray Alliance, making the combined operation one of the largest dray providers to the Southern California ports.
Founded in 2018, Long Beach, California-based Dray Alliance provides end-to-end drayage management in the Los Angeles and Long Beach markets. The addition of Dray Alliance expands ContainerPort Group’s carrier network and improves its technology platform with enhanced real-time tracking and other automation tools.
Financial terms of the transaction were not disclosed.
“Dray Alliance has built an incredible platform that aligns with our commitment to innovating and digitizing, while maintaining the reliability and service that our customers know and expect,” said Joey Palmer, president of the company and co-CEO at World Group, in a news release. “By bringing their technology into CPG, we’re unlocking new efficiencies and expanding our ability to serve shippers with smarter, tech-enabled solutions.”
Shippers and carriers served by Dray Alliance will continue to use the company’s platform as ContainerPort Group integrates its customer base.
“By combining CPG’s scale, reliability, and expertise with our cutting-edge technology, we are creating a best-in-class solution that benefits customers, carriers, and the entire industry,” said Dray Alliance founder and CEO Steve Wen.
Cleveland-based World Group is the parent of multiple international cargo transportation and logistics companies, including NVOCC freight forwarder UWL and warehousing and distribution provider World Distribution Services.
More FreightWaves articles by Todd Maiden:
ArcBest takes on TL freight to fill empty capacity
Deutsche Bank eyes industrial rebound, endorses these transportation stocks
XPO sees improvement in February, tonnage still down y/y
The post ContainerPort Group expands Southern California dray network with acquisition appeared first on FreightWaves.
