ITS ConGlobal Acquires the CY/Depot Services Division of ContainerPort Group, Inc.
For Immediate Release – March 2, 2021 –
ITS ConGlobal (ITSC), North America’s leading operator of intermodal, finished vehicle, and depot service terminals announced the acquisition of the cy/depot division of ContainerPort Group, Inc (CPG®). The transaction is scheduled to close on March 15, 2021.
One of ITSC’s key objectives is to strengthen its North American presence through organic growth and acquisitions. The acquisition of CPG’s cy/depot division supports this objective by filling critical geographic gaps in ITSC’s existing network and meeting our current client demand for container sales, leasing, and maintenance and repair.
ITSC’s Senior Vice President Depot Operations, Rene Etcharren, comments, “We are very pleased to welcome the CPG cy/depot division into the ITS ConGlobal family. CPG’s reputation in the industry is outstanding. The acquisition of their cy/depot division will enable us to provide a national network of cy/depot solutions to our customers, unlike any of our competitors.”
Joining Forces We are acquiring operations in the following locations across the Midwest: Cincinnati, Cleveland, Columbus, Detroit, Indianapolis, Louisville, and St. Louis, specializing in inland depot services to the international and domestic shipping sector.
According to Marc Bumgarner, ITSC’s VP Sales and Marketing, the two companies’ services portfolios perfectly complement each other. “By adding to our existing portfolio, we can serve our customers better and with more complete solutions compared to what each of us could do on our own,” he says. “Four of the acquired locations are adjacent to ITSC existing rail operations allowing us to explore new technology and services, such as the remote operation of industrial and logistics equipment.”
Michael Smith, CEO of CPG’s parent company, World Group, comments: “This transaction is really about strategic focus –for ITS Conglobal it’s about geographic expansion of its inland terminal and CY business; for CPG it’s about being laser focused on our core activity as a national, leading drayage provider to the international shipping community.”
About ITS Conglobal: ITS ConGlobal (ITSC) is North America’s leading operator of intermodal, finished vehicle, and depot service terminals. With operations across the US, Mexico, and Costa Rica and more than 50 years of industrial experience, ITSC serves as the industry’s go-to experts in terminal operations. ITSC’s service and product offerings anchor on complementing specialized industrial equipment operations with advanced, technology-enabled systems and processes.
About ContainerPort Group: ContainerPort Group (CPG®) is an award-winning multimodal transportation company specializing in intermodal drayage. Headquartered in Cleveland, Ohio, and founded in 1971, the company provides comprehensive trucking and logistics services for customers throughout North America. With a focus on customer needs and a network of over 2,000 transportation experts, including a safe and dependable fleet of over 1,300 independent contract drivers, CPG has the tools, talent, and experience to move your freight. To learn more, visit their website: www.containerport.com