Indianapolis courier company acquired by Minnesota firm
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Indianapolis-based Now Courier has been acquired by Priority Courier Experts, a logistics services company headquartered in Minneapolis, Minnesota. Financial terms of the deal are not being disclosed.
Now Courier was founded in 1986 and provides local and specialized delivery services throughout Indiana, as well as Kentucky and Ohio.
Priority Courier CEO Mark Cossack said in an email to Inside INdiana Business that Now Courier has 50 employees and more than 200 independent contractors that operate out of its offices in Indianapolis, Evansville, Fort Wayne, Merrillville, South Bend, Louisville and Cincinnati.
However, Cossack said there are not plans to cut any jobs following the acquisition.
“This is a growth investment and a partnership between Now and Priority Courier to grow rapidly in Indiana,” Cossack told IIB. “We expect to add a significant number of employees and independent contractors in the state.”
Now Courier President Ryan Schwalbach called Priority Capital the right partner to help lead his company into the next phase of growth.
The acquisition brings Priority Courier’s employee headcount to more than 175, with more than 1,000 independent contractors. The company said in a news release that the deal is part of an effort to expand its expedited freight and transportation services footprint throughout the central United States.
Priority Courier is a portfolio company of Bluejay Capital Partners, a transportation and logistics-focused investment firm headquartered in Jacksonville, Florida.
“We are thrilled to execute our organic growth strategy for Priority Courier Experts by expanding into other dynamic markets with strong incumbent partners,” Garrett Anacker, vice president at Bluejay Capital, said in written remarks. “In addition to supporting the PCE and Now teams, we are actively looking towards additional market expansion opportunities in the near future.”