Bulova Technologies Group, Inc. (BTGI) announced the completion of the acquisition of Big Red LTL Transport, Inc., a New Jersey based trucking company with 27 trucks, 38 refrigerated trailers and 38 customers with hubs in both Netcong and Chicago, Illinois. The purchase was financed by Peoples Bank, a new lender to the Company.
Stephen L. Gurba, president and CEO of Bulova Technologies Group, stated, “This acquisition is an important addition to the growth of Bulova Technologies’ family of transportation companies. Our transportation companies will now serve additional regions to complement our strong Florida presence. Big Red should increase our overall sales by $12 million annually. Our transportation business should now increase in our fiscal 2018 to well over $40 million in sales annually. We continue to look for strategic acquisitions in the transportation business.”