In a strategic move to expand its operations, Kreilkamp Trucking, a family-owned carrier based in Allenton, Wisconsin, has acquired the assets of Gray Transportation, a well-established carrier in Waterloo, Iowa. After more than four decades in business, Gray Transportation will cease operations, leaving a significant gap in the industry. This deal allows Kreilkamp to take control of various assets, including trailers and freight contracts, and potentially integrate some of Gray's experienced drivers into its workforce.
Kreilkamp Trucking, which has been operating since 1935, continues to grow under the leadership of Tim Kreilkamp, the CEO. The company, which runs about 300 trucks, provides transportation services across the Midwest and the Eastern Seaboard. The acquisition of Gray Transportation’s assets is seen as a strategic opportunity to bolster Kreilkamp’s fleet and logistics capabilities.
“We’re constantly looking to grow and evolve,” said Tim Kreilkamp in an interview with FreightWaves. “Certain assets from Gray Transportation were advantageous to us as we look to strengthen our fleet moving forward.” Kreilkamp declined to elaborate on the specifics of the acquisition but emphasized the importance of the move for the company’s future.
In addition to the trucking division, Kreilkamp Trucking also owns several related businesses, including Brent Redmond Transportation, WB Warehousing & Logistics, and Farmer’s Implement Inc. This expansion of services positions Kreilkamp to remain a dominant player in regional transportation and logistics.
Gray Transportation, founded in 1984 by Leroy Gray, had a strong presence in the industry with a fleet of over 150 trucks, 500 trailers, and 100 drivers. For decades, the company provided over-the-road dry van solutions, with global equipment manufacturer John Deere being one of its major clients. However, the company recently faced financial challenges that ultimately led to its closure.
Darrin Gray, president of Gray Transportation, cited low freight rates and rising truck leasing costs as the primary reasons for shutting down the company. "The spot market rates were low when we had to use brokers to get our trucks back into our contracted freight lanes," Gray explained. "Additionally, the rent increases on leased trucks from Ryder were unsustainable." These financial pressures made it impossible for Gray Transportation to continue its operations.
While the closure of Gray Transportation marks the end of an era, there is some hope for its drivers. Darrin Gray expressed optimism that many of his drivers, particularly those based in the Midwest, would find new opportunities with Kreilkamp Trucking. "I was the last part of the generation of the family in the business, so I’ll work with Kreilkamp," said Gray, emphasizing that he would do everything he could to support his team through the transition.
Kreilkamp Trucking has already started integrating some of Gray's drivers into its operations, providing a lifeline for those affected by the closure.
As Kreilkamp Trucking moves forward, it remains committed to its family roots and continues to evolve. With the acquisition of Gray Transportation's assets, the company is positioned to strengthen its service offerings while continuing to provide essential transportation solutions across a broad region. The acquisition also underscores Kreilkamp’s long-standing reputation for resilience and adaptability in the competitive trucking industry.
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