News: Press Release
Offit Kurman M&A Group Represents the Ritter Companies in Company Sale
October 2, 2019 | Laurel, MD
The attorneys of Offit Kurman’s mergers and acquisitions (M&A) team are pleased to share news of a recent transaction successfully closed for a client of the firm. The previous owners of the Ritter Companies have sold their businesses to a subsidiary of EVO Transportation & Energy Services, Inc. (EVO). Attorneys Michael Mercurio, and Andrew Robinson represented the sellers throughout the transaction.
Since 1964, the Ritter Companies have provided regional and nationwide supply chain logistics and transportation services. With a fleet of 125 trucks, over 300 employees, and a slate of Fortune 500 customers, the Ritter Companies have grown into a trucking and logistics industry leader. As the largest U.S. Postal Service (USPS) contractor in the Mid-Atlantic and Northeast regions, the Ritter Companies have built a reputation for exceeding the high standards set by the USPS.
John Yeros, CEO of EVO, said: “Ritter is a well-run business that provides our platform with greater exposure to East coast mail routes. We look forward to beginning the onboarding process and furthering our mission of becoming the preferred supplier for the USPS.”
The Ritter Companies are comprised of four divisions headquartered in Maryland: John W. Ritter Trucking, Ritter Transport, Inc., Ritter Transportation Systems, Inc., and Johmar Leasing Company, LLC. Those companies have now been transferred to EVO Holding Company, LLC.
EVO Transportation & Energy Services, Inc. (EVO) (OTC Pink: EVOA), is an emerging, nationwide transportation operator, and a next-gen supplier for the USPS and an alternative fuel services company. EVO hauls mail across 24 states and offers flexible and efficient solutions through a combination of Diesel and CNG trucks and tractors nationwide.
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To learn more about recent deals closed for clients of the firm, and get in touch with an Offit Kurman M&A attorney, visit offitkurman.com.
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