Wichita's Bruenger Trucking sells for $11 million

Integrated Freight Corp. has reached an agreement to purchase Wichita-based Bruenger Trucking Co. and its subsidiary, M. Bruenger & Co., for $11 million.

The deal will close in 45 days, said Butch Bruenger, chief executive of the 74-year-old family-operated firm.

"I'm 66," Bruenger said, "and this seemed to be a really good vehicle to take care of my company."

Bruenger characterized the sale as one of several mergers that the Sarasota, Fla., company is orchestrating to become one of the nation's largest truckers.

Bruenger has a three-year contract to continue operating the company for Integrated Freight.

"There are a lot of companies out there, a lot of opportunities to come in and just buy your customer base. I won't do that," Bruenger said. "They have a viable way to move forward and grow as a company, and they have a good concept.

"The big thing for us was to take care of the customers and employees who have been so loyal to us."

The deal should add about $21 million in annual revenue to the Florida firm, bringing its total annual revenue more than $60 million.

And when Integrated is finished growing, Bruenger said its annual revenue number should be more than $100 million.

"It's the right time," Bruenger said. "If this economy ever gets straightened out, there's going to be a shortage of trailers. There are carriers on the sidelines, fewer carriers, smaller fleets. It's a good time for them to grow."

Bruenger's fleet includes 160 tractors, 187 refrigerated units, 30 dry vans and a team of experienced drivers. It hauls aviation materials, canned goods, food and general commodities across the United States and into Canada.

"The addition of Bruenger Trucking marks a significant milestone for IFC as we continue to assemble a high quality national freight network," Paul Henley, CEO of Integrated Freight, said in a statement.

"Acquiring a company with the reputation and longevity of Bruenger in such a strategic geographic area is a watershed event for us."

IFC specializes in dry and refrigerated freight and hazardous waste truckload services, operating in well-established traffic lanes in the upper Midwest, Texas, California and the Atlantic seaboard.

Bruenger is the fourth addition to its trucking network, company officials said in a statement.

This story was originally published October 12, 2010 at 12:00 AM with the headline "Wichita's Bruenger Trucking sells for $11 million."