by Mark Carter
Posted 3/3/2014 08:40 am
Updated 10 months ago
Stampede Transportation of Little Rock is merging with American Energy Transport, the company announced Monday.
Stampede provides bulk fuel transportation and logistics. AET is a fuel transportation provider based in Dallas.
The merger will increase the regional footprint for parent company AET Holdings LLC. The two subsidiaries will provide transportation services in Arkansas, Texas, Oklahoma, Louisiana, Tennessee, Georgia and Mississippi.
"We see significant synergies between the two entities that make this an ideal fit," said Shawn Bhagat, AET Holdings chairman, in a news release. "It is our goal to provide a greater amount of resources in the currently operating areas in an effort to better serve these markets."
Jeff Johnson, Stampede's managing partner, said the Stampede team will remain in place and continue to manage company operations.
"We are excited for this merger to be completed, as it will allow us to provide technological and operational enhancements and an expanded geographic area," he said. "There will absolutely be no service disruptions during this transaction, and we are pleased that the team here at Stampede will continue to manage the operations."