Indianapolis-based Jay’s Moving Co. has entered the Fort Wayne market by purchasing a 59-year-old family-owned moving firm in the northeast Indiana city.
The acquisition of Colen Moving & Storage Inc. closed on Monday, according to Jay’s. Terms of the deal were not disclosed.
Colen, which employs about 10 workers and posted revenue of about $750,000 in 2016, will assume the Jay’s name. Katie Stoneburner, the former owners’ daughter, will head the Fort Wayne office for the long-term.
“What drew us to Colen was their longstanding heritage and impeccable reputation within the Fort Wayne community,” said Jeff Williams, general manager for Jay’s, in a release announcing the deal. “We have been planning our expansion into Fort Wayne for three years now. The opportunity with Colen was a perfect fit for our plan.”
Jay’s was founded in Indianapolis in 1951. It employs about 30 workers and posted revenue of about $2 million in 2016.