Bulova Technologies Group Inc. (BTGI) of Largo recently acquired Big Red LTL Transport Inc., a New Jersey trucking business with 27 trucks, 38 refrigerated trailer units and 38 clients.
The transaction was financed by Peoples Bank, according to an announcement.
“This acquisition is an important addition to the growth of Bulova Technologies’ family of transportation companies,” BTGI President and CEO Stephen Gurba said in a press release. “Our transportation companies will now serve additional regions to complement our strong Florida presence.”
Big Red operates refrigerated transport service out of Netcong, New Jersey, primarily serving the North Central and northeastern portions of the United States. It also runs a terminal in Chicago.
“Big Red should increase our overall sales by $12 million annually,” Gurba said. “Our transportation business should now increase in our fiscal 2018 to well over $40 million in sales annually. We continue to look for strategic acquisitions in the transportation business.”
BTGI is the parent company to three affiliated businesses: Bulova Technologies Machinery LLC, Bulova Technologies Europe LLC and BT-Twiss Transport. BTGI and the three branches are in Largo.