Bengur Bryan, a leading investment banking firm that provides merger and acquisition services, private placements of equity and debt, and financial advisory services, is pleased to announce that Saia, Inc. was the winning bidder for 28 terminals of Yellow Corporation (“Yellow”) auctioned in connection with Yellow’s pending Chapter 11 bankruptcy.
Saia, Inc. (Nasdaq: SAIA), a leading transportation provider offering national less-than-truckload (LTL), non-asset truckload, expedited and logistics services, agreed to pay a total of $235.7 million for 17 Yellow terminals for the first wave of properties that were auctioned in December 2023. These terminals are located in the following markets: Fresno, California; Seaford, Delaware; Augusta, Georgia; Bowling Green, Kentucky; Paducah, Kentucky; West Boston, Massachusetts; Grand Rapids, Michigan; Grayling, Michigan; Duluth, Minnesota; Owatonna, Minnesota; Trenton, New Jersey; Rochester, New York; Akron, Ohio; Youngstown, Ohio; Reading, Pennsylvania; Knoxville, Tennessee; and Laredo, Texas.
Saia, Inc. participated in a second auction held in late December 2023 and secured a winning bid for 11 additional sites at $7.9 million across several Western states with a concentration in Montana, South Dakota and Wyoming.
“The addition of these new facilities furthers our multiyear strategy of expanding Saia’s national terminal footprint and, as they are opened over time, they will enable us to provide better service to both new and existing customers,” said Saia President and CEO Fritz Holzgrefe. “These terminals, once opened, will allow us to provide direct coverage in new markets, add density in existing markets and serve as replacement terminals for some of our existing leased and owned facilities.”