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Celadon acquires truckload van assets from Tango Transport 30 September 2015

Adding density in primary traffic lanes and gaining experienced drivers

Celadon has announced that one of its wholly-owned subsidiaries has acquired select assets of the truckload business of Tango Transport, LLC (Tango).  According to the seller's unaudited financial statements, the Shreveport, Louisiana-based company generated approximately US$90.0 million in gross revenue in 2014.

For Celadon, the Tango acquisition will fulfil one of its immediate goals of continuing to grow its business with its existing customer base by adding density in primary traffic lanes and gaining experienced drivers.

Based on Celadon’s evaluation of the business, it believes Tango has quality customers and drivers, with the majority of their customers overlapping its current customer base. The acquired operations will be integrated promptly. As part of the process, it expects to optimise the combined customer, driver and equipment base to improve asset productivity, enhancing the service to Tango's former customers through an upgraded equipment fleet, excellent technology, more available assets for dispatch and an outstanding safety record. The acquired operations are expected to be accretive beginning in the December 2015 quarter.

Celadon provides long-haul, regional, local, dedicated, intermodal, temperature controlled, flatbed and expedited freight service across the US, Canada and Mexico. The Company also owns Celadon Logistics Services, which provides freight brokerage services, freight management, as well as supply chain management solutions, including warehousing and distribution.