US-based intermodal chassis leasing company, FlexiVan, has agreed to purchase all of the assets of New Pride Corporation’s intermodal tyre division.
The transaction is expected to close late August, and FlexiVan will continue all tyre operations at the following New Pride locations: Oakland, the corporate headquarters and tyre mounting and distribution facility; Rancho Dominguez, the tyre retreading plant, distribution facility and administrative offices; and Kenilworth, tyre distribution and service centre.
“We have enjoyed a strong vendor partnership with the New Pride team for many years, and we look forward to expanding operations while building greater value for our customers and FlexiVan,” said FlexiVan President and Chief Operating Officer, Charlie Wellins.
“We are also very excited to move forward with this transaction,” said New Pride Corporation President, Mohsen Ansari. “The added FlexiVan resources and industry expertise will enable us to expand our customer base and service offerings.”
The parties anticipate a seamless transition, and the New Pride management team will reportedly continue to run the day-to-day operations of the tyre business as a wholly-owned subsidiary of FlexiVan.