New Century Transportation is bringing a different style of less-than-truckload (LTL) delivery to the new century. A transportation services company, New Century offers LTL services (where carriers consolidate freight from multiple shippers into a single trailer) to industrial, chemical, food, and other companies. Unlike many LTL carriers, the company offers a signature LTL service it calls "Load-to-Deliver," which involves delivering freight directly to customers rather than to a hub. It operates a fleet of more than 980 tractors and 2,140 trailers in the northeastern US, as well as across other parts of the US and Canada. The company was formed at the turn of the century in 2000.
New Century filed to go public in 2010, but it appears to have put these IPO plans on hold. It intended to use the proceeds (up to $120 million) to repay debt and fund acquisitions.
The company operates a half-dozen warehousing and terminal facilities and offers its services through its own operations and through its subsidiaries, Northwind Logistics and Western Freightways.
The company's efforts to attract new customers include growing its presence in its core northeastern markets and investing in its key services. Such services include transportation of specialized freight like pharmaceuticals, agricultural products, and hazardous materials, as well as inbound truckload services (where, after completing delivery of its LTL-related freight, the company's returning trucks often pick up freight bound for the Northeast).
New Century is owned by private equity firm Jefferies Capital Partners, which acquired a controlling interest in the company in 2006. – less