Estes recently announced that it has finalized lease agreements for seven former Yellow Transportation terminals across the nation.
In total, Estes has acquired 29 terminals and taken over 10 leases for Estes-owned terminals previously held by the former trucking company, which shut down and declared bankruptcy just over a year ago. Despite these acquisitions, Estes remains debt-free.
The company also announced plans to relocate six of its terminals to new facilities in the following cities:
- Charlotte, North Carolina
- Milwaukee, Wisconsin
- Minneapolis, Minnesota
- Rockford, Illinois
- South Bend, Indiana
- Eugene, Oregon
This acquisition adds a net gain of 290 doors to its nationwide network.
Notably, the new terminal in Charlotte will become the largest in the company, with 275 doors. So far this year, Estes has a total of 11,832 doors, an increase of 508 doors since January 1, reflecting a 4.5% growth compared to the previous year. The company also aims to add another 940 doors within the next nine months.
“These acquisitions are yet another example of our commitment to investing in resources that add capacity, all to better serve our customers,” said Webb Estes, president and COO. “I applaud our team’s hard work and dedication for how quickly we’ve been able to deploy and take advantage of these new assets, which include hundreds of shipping containers and trailers, throughout our fleet.”
Since the beginning of 2024, Estes has reported acquiring an additional 6,800 trailers, bringing its total fleet to over 45,000 trailers nationwide.
