Riverstone Logistics acquired final-mile logistics provider Ralph’s Transfer, the multimodal company announced this month on LinkedIn.
The addition to the Charlotte, North Carolina-based company complements its final-mile, big and bulky service offerings, per the announcement, expanding its Tampa, Florida, footprint “within the appliance vertical.” Terms of the deal were not listed.
"Selling Ralph's Transfer, a company that my late father, Ralph Benfield, started in 1965, was never going to be easy,” Robert Benfield, president of Ralph’s, said in the news release. Getting to know Riverstone, including its dedication to customers and employees, helped him feel confident in his decision, he noted.
Riverstone was founded in 2017 and grew from 50 to 640 workers in two years, and it’s also expanded its service offerings in middle mile, freight forwarding and warehousing, according to the news release.
The company first focused on furniture deliveries but later expanded to areas such as consumer electronics, building materials and appliance installations, according to its website.
