I am extremely pleased to announce that on August 1, 2022 CLC was acquired by Wafra, Inc. Moving forward, Wafra will own a majority interest in CLC, with the Goor family continuing to hold a significant stake in the company alongside Wafra.   We are very excited to have the backing and expertise of an institutional partner and we look forward to leveraging our combined resources to accelerate our growth both organically as well as through acquisition.

With that said, overall business remains strong, however, the mitigating factor continues to be the constrained supply of both new and used trailers.  Fortunately, we have been a bit more successful in securing new chassis equipment and, as a result, we have been able to meet our growth projections on a relative basis. Due to the uncertainty of supply of new and used assets, we have begun looking at different ways in which to grow revenues which includes exploring adjacencies such as contract maintenance, etc.

We are less than 60 days away from moving to our new, larger corporate offices and we hope that this will be our last move for a while.

I want to recognize our commercial team for their continued diligence and ability to overcome the adversity which they experience every day when faced with overwhelming demand that we are struggling to meet.

As always, I would like to thank our customers for their continued business and loyalty. We remain steadfastly committed to working through the supply issues and to providing the trailing equipment and services that you have come to expect from CLC.

 

With Gratitude,

Mike Goor

President/CEO