Posted on October 13, 2022
CAMDEN, New Jersey-based NFI, a FleetOwner 500 provider of North American supply chain solutions, announced that it has acquired MCO Transport, a provider of port service solutions in the southeastern U.S.
With the acquisition, NFI, which is No. 29 on the FleetOwner 500: Top For-Hire Fleets of 2022 list, is setting itself up to expand its port solutions and export drayage services with locations in Wilmington, North Carolina, Norfolk, Virginia, Charleston, South Carolina, Savannah, Georgia, and Atlanta.
Established in 1976, Wilmington-based MCO Transport is a family-owned business that specializes in container drayage services. MCO also operates an array of transportation and warehousing solutions, including domestic truckload and specialized commodities, between its terminals in the Southeast ports. The addition of MCO Transport enhances NFI’s network in the Southeast, according to an NFI release.
“When we look at an acquisition, we look at three things: their people, culture, and if the expansion brings value to our customers,” NFI CEO Sid Brown said. “With the MCO acquisition, we are getting exactly that. We are excited to welcome the MCO team to the NFI family and know they will play a key role in the future success of NFI. The acquisition also allows us to bring value to our customers by expanding our presence in the Southeast during a time when our customers are looking to diversify their port strategy.”
“Throughout this process, our team wanted to ensure we found a buyer that would create opportunities for our employees and our customers. It is a culture that matched what MCO has grown to expect,” said Danny McComas, MCO’s owner and CEO. “NFI is a great fit for MCO employees because of our similar cultures—they are a family-owned business, dedicated to their employees’ growth, and have a deep commitment to their customers.”
Since its acquisition of California Cartage Co. in 2017, NFI has become a leader in the port drayage space by providing capacity to its customers through most major port terminals in the U.S. and Canada, according to the NFI release.
The company’s acquisition of G&P in late 2019 solidified NFI’s position within the Southeast in transportation, cross-border, and port drayage. In 2021, the company inked a deal with the Georgia Ports Authority to operate a new transload and cross-docking facility in Savannah, which is opening in 2023. With the MCO acquisition, NFI adds to its additional facility openings in Norfolk and Suffolk, Virginia, and in Houston, which are also slated to go live through the end of next year.
NFI generates more than $3.8 billion in annual revenue and employs more than 16,000, according to the release. The company owns and operates more than 65 million square feet of warehouse space alongside a dedicated fleet of 5,170 tractors and 13,275 trailers. According to NFI, by 2023, the company also will operate the first 100% zero-emission drayage fleet.
NFI participated in the Volvo LIGHTS project, introducing Volvo VNR Electric Class 8 trucks into its transportation fleet, as well as electrified its yard trucks and forklifts at its warehouse facility in Chino, California.