Angola-based logistics company Tradition Transportation Group Inc. is being acquired by Aqua Power Systems Inc. Aqua, which is a shell company based in Florida, says it will acquire all outstanding shares, as well as relevant subsidiaries and assets, of Tradition Transportation Group.
Aqua says the acquisition will “usher in a new generation of operations” for APSI within the North American logistics industry.
“I am enthusiastic about the planned business combination with APSI in order to further the growth of Tradition’s operations,” said Joe Davis, chief operations officer at Tradition.
Tradition provides a variety of logistics and transportation services throughout North America. Their services include freight management, reverse logistics, freight brokerage, dispatching, equipment leasing and dedicated services warehousing with rail access.
Financial terms of the deal were not disclosed.