HOLLAND — The second-generation of the Walcott and Laning families has acquired 50 percent of Premier Freight Management Corp. of Holland.
Jonathan Laning and Kyle Walcott purchased the shares from Mark Laning, who retired from the company, and each own a 25 percent stake in the shipping, logistics and warehousing company, according to a statement.
Terms of the deal, which closed Oct. 1, were not disclosed. Co-founder and CEO Doug Walcott plans to stay on with the company “for the foreseeable future.”
The younger Laning and Walcott now own 25 percent each of the shares of Premier Freight Management and its subsidiaries, Premier Freight, Premier Freight Systems and Premier Asset Leasing.
“Kyle and Jonathan have watched Premier Freight grow, and they will do great things to move the company forward,” Doug Walcott said in a statement.
The company also recently signed long-term lease for a 75,000-square-foot warehouse at Holland’s Federal Square Business Park.