Tow Pro Services Inc. acquired Davenport Towing & Recovery LLC., one of the oldest towing operations in Tennessee, broadening Tow Pro's regional footprint. Nashville, TN - May 29, 2015 - (Newswire.com)
Tow Pro Services Inc. acquired Davenport Towing & Recovery LLC., one of the oldest towing operations in Tennessee, broadening Tow Pro’s regional footprint.
“It’s just a good fit,” said David Williams, co-owner of family firm Tow Pro. “It also allows us to offer quicker response times for customers and more synergy along the I-40 corridor in Tennessee.”
Tow Pro – started by Williams’ father Doug in 2000 – also owns Antioch-based Cotton’s Towing, which it acquired in 2011. Tow Pro sells heavy-duty trucks as well.
Davenport, based in Memphis and started in 1954, boosted parent company revenue by about 33 percent, according to Tow Pro, which now boasts a fleet of 30 trucks, about double the industry average. Tow Pro employs up to 35 people depending on the season, Williams said.
“We are still local in both markets. We are still family owned. We’re now adding a regional presence to give customers top-notch service,” said Williams.
The acquisitions have strengthened Tow Pro’s dominance in heavy- and light-duty towing, as well as specialized transport.
“Cotton’s has added 11 percent to our bottom line,” said Williams of its earlier business decision. He explained that Cotton’s location brought Tow Pro closer to the area’s trucking companies.
In an industry where consolidation is a trend, Williams doesn’t rule out future business buyouts.
“We’re probably going to acquire other companies rather than start out fresh. You buy out competition and gain customers,” Williams said.
For more information, contact David Williams, co-owner of Tow Pro Services Inc., at 615-256-8697. Visit www.towproservices.com to learn more.
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Original Source: Nashville-based Tow Pro Acquires Memphis Towing Company
