By Clarissa Kell-Holland, Land Line staff writer
In late March, drivers for Tacoma, WA-based Interstate Distributor Co. received word that another Northwest-based company, Saltchuk Resources Inc., had agreed to acquire them.
Renee Trueblood, senior vice president of human resources for IDC, told Land Line on May 5 that they are “feverishly working to close,” but at this point she’s not sure of the exact date the acquisition will be completed.
In April, she said the tentative closing date was scheduled for May 2.
At that time, Trueblood said that Saltchuk planned to let IDC continue to operate as a separate company.
“There are no plans to change the color of the trucks, the name of the company,” she said. “Our drivers will continue doing what they’ve been doing.”
Trueblood confirmed that IDC has been “actively marketing itself” for a while now and that the deal was brokered by Cascadia Capital LLC, in Seattle, WA.
According to Saltchuk’s website, they have more than 5,000 employees in 20 different operating companies in the transportation, real estate and energy industries.
Both Saltchuck and IDC are Northwest-based family-owned, privately held companies.
She said Saltchuk already has made cash available to IDC to help “rebuild the company’s contract carrier base,” which has fallen off in the past few years.
At closing, additional funds will be made available to help upgrade some of IDC’s high-mileage tractors.
“We are excited about this opportunity,” Trueblood said recently. “This isn’t a situation where we are being swallowed up by the competition. And it’s not a situation where we are being bought by a private equity company that would look to then spin us off in a couple of years.”
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