The Wall Street Journal reported New York investment firm Luminus Management has offered $14.5 million to acquire the Taylor Express business of bankrupt truckload carrier Celadon Group.
The offer subject to higher bids at a possible auction, according to the Journal. The deal sets the floor for Taylor Express, which has been shopped by advisers to Celadon in Chapter 11 bankruptcy. The Journal added that Luminus is among Celedon’s lenders.
North Carolina-based Taylor Express operates in the southern and southeastern U.S., delivering goods mainly for the tire industry and retailers that include home-improvement chain Lowe’s.
