Transportation and Logistics Systems (TLSS) announced Thursday one of its subsidiary companies entered into an agreement to acquire JFK Cartage. The deal is expected to double TLSS’ revenue and expand its presence around JFK International Airport.
Cougar Express will acquire all of the outstanding stock of Inwood, New York-based JFK Cartage for approximately $1.7 million. At closing, $500,000 will be paid in cash with the remainder paid in the form of a promissory loan and the assumption of debt.