Jay Niendorf- CEO of Elfrink

Niendorf said the move makes good business sense in an industry where bankruptcies are becoming the norm. Transport Topics weekly magazine reported in its Monday issue that more than 2,500 trucking companies have declared bankruptcies so far in 2008.

"We're in a tough economic climate, so anytime our operation can improve its ability to serve our customers we come out winners," Niendorf said. "The move means someone has confidence in the way we do our business and that's very positive."

Niendorf said the two companies will continue to operate separately and have no immediate plans to merge their business operations.

Started in 1994, Elfrink is a regional truckload carrier with hubs in Memphis, Tenn., St. Louis, Chicago and Fredericktown, Mo.

The company also has transportation contracts with Nestle in Bloomfield, Mo., General Electric Appliances in Louisville, Ky., WW Grangier and Signode in Chicago and Spartech in St. Louis.

Gulfstream Express is a long-haul truckload carrier in a 48-state area and began service in 1998. Its major markets are the Southeast, Central, Great Lakes, Midwest and Southwest regions of the U.S. The company serves those areas through a network of service centers in Panama City, Fla., Columbia, S.C., Montgomery, Ala., and Gulfport, Miss.

Niendorf said Elfrink already has benefited from the acquisition as a beneficiary of upgraded equipment. And that's just the tip of the iceberg of what the future holds, Niendorf said.

"This is a win-win situation for both companies," Niendorf said. "They're able to benefit from a service they didn't have before and we are able to get some new equipment."

Lewis said he became interested in Elfrink because of its business model.

"We want to know if that business model is superior to our own so we can change it," Lewis said. "And we hope to make some money and come out ahead."

At this point, Lewis intends to allow Elfrink to operate as is for two to three years. After that, Lewis will make a decision whether to merge the two companies. If the merger occurs, he plans to keep the Elfrink name.

"Elfrink's name is well-known in its area and we don't want to forfeit the value of the name," Lewis said.