Mergers & Acquisitions: Page 10

  • U.S. Xpress Enterprises tractor-trailer on I-95 in Virginia in May 2023.
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    David Taube/Trucking Dive
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    US Xpress shareholder sues to temporarily halt merger

    A legal complaint seeks to postpone a June 29 vote until more financial information is provided.    

    By • May 30, 2023
  • US Xpress CEO and President Eric Fuller
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    Retrieved from US Xpress on May 18, 2023
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    US Xpress’ Eric Fuller to take job at business accelerator

    With the new position, the seasoned trucking executive will focus his efforts on recruiting and mentoring entrepreneurs on a national scale.  

    By • May 22, 2023
  • Driving on open road at beautiful sunny day. Aerial view of highway. Explore the Trendline➔
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    Getty Images
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    Trendline

    Top 5 stories from Trucking Dive

    These five stories detail the top trends and issues facing the trucking and transportation industry. 

    By Trucking Dive staff
  • A Heartland Express truck takes a trip on the road.
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    "HeartLand Express" by Chris Yarzab is licensed under CC BY 2.0
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    Heartland works to improve efficiencies of newly acquired assets

    The carrier’s operating ratio rose to 93.1% in Q1, putting further stress on a decades-long average in the low 80s.

    By • May 11, 2023
  • A Penske Truck Leasing box truck.
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    Permission granted by Penske Truck Leasing
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    Penske to acquire Star Truck Rentals in second deal this year

    The company operates more than 1,900 vehicles from 18 locations throughout Michigan and Indiana.

    By • May 2, 2023
  • A Covenant Logistics Group truck and trailer.
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    Courtesy of Covenant Logistics Group
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    Covenant buys Arkansas-based poultry carrier for $100M

    The carrier bought Lew Thompson & Son Trucking and its approximately 225 trucks, with plans to expand the company's service reach.

    By • May 1, 2023
  • Trucks are parked in a Siemens Transportation Group promotional illustration.
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    Retrieved from Siemens Transportation Group on May 01, 2023
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    TFI acquires 2 LTL carriers

    Siemens Transportation Group and Hot Line Freight Systems are part of a $300 million M&A and buyback strategy this year.

    By • May 1, 2023
  • The Teamsters National Freight Industry Negotiating Committee kicked off negotiations with ABF Freight in March.
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    Retrieved from International Brotherhood of Teamsters on April 20, 2023
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    ‘Too busy with the storm’: TFI says Teamsters talks delay possible ArcBest acquisition

    Despite the slowdown in progress, the carrier noted an acquisition "of size" could come later this year.

    By • April 28, 2023
  • A Swift trailer is in a parking area.
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    Courtesy of Knight-Swift
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    How Knight-Swift’s deal with US Xpress unfolded

    Industry lawyer Mark Scudder played a pivotal role in bringing the two carriers toward the sale, according to a securities filing.

    By • April 28, 2023
  • A row of freight trucks.
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    Permission granted by Estes Express Line
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    Deep Dive

    Rooted in Richmond: How Virginia’s capital spawned 3 LTL giants

    The often-intertwined histories of Overnite Transportation Co., Old Dominion Freight Line and Estes Express Lines offer lessons to today’s fleet executives.

    By , • April 4, 2023
  • A U.S. Xpress truck drives northbound on I-95 in Virginia in January 2023.
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    David Taube/Trucking Dive
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    US Xpress HQ slated to remain following Knight-Swift deal

    Executives said retaining the Chattanooga, Tennessee location would minimize disruption.

    By • April 3, 2023
  • Swift freight is hauled southbound on I-95 in Virginia in January 2023.
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    David Taube/Trucking Dive
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    What Knight-Swift deal means for its future M&A prospects

    Experts say the acquisition illustrates the prime market conditions for network expansion right now.

    By , • March 27, 2023
  • A U.S. Xpress truck drives northbound on I-95 in Virginia in January 2023.
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    David Taube/Trucking Dive
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    US Xpress subsidiary will remain separate following Knight-Swift deal

    Total Transportation of Mississippi will retain its brand, operations and workers once the acquisition closes.

    By • March 23, 2023
  • Trucks wait at a gate outside a Port of Los Angeles terminal.
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    Mario Tama/Getty Images via Getty Images
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    Banking instability could affect trucking

    Faltering institutions or any pullback in lending could change fleet operations and the profile of M&A deals in the industry.

    By • March 23, 2023
  • A photo of a US Xpress truck
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    Permission granted by U.S. Xpress
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    Knight-Swift unveils new leadership for US Xpress as part of deal

    Swift Transportation executives will take the reins of the acquired company as the Fuller family transitions out of executive roles.

    By • March 21, 2023
  • ABF Freight trucks at a dock.
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    Courtesy of ArcBest
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    Terminals would be central to any TFI acquisition of ArcBest, M&A expert says

    Adding ABF Freight’s 240 facilities would be “a really smart play,” said Spencer Tenney, a trucking industry consultant.

    By • March 21, 2023
  • A Swift truck
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    Courtesy of Knight-Swift
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    Knight-Swift moves to buy US Xpress for over $800M

    The carrier's board of directors approved a plan Monday, according to a securities filing, and the deal could close in Q2 or Q3.

    By • Updated March 21, 2023
  • R&R Express LTL Truckload Load to Ride LTR
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    Provided by R&R Express

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    R&R Express buys Load to Ride

    The Pittsburgh-based LTL and truckload carrier says the acquisition opens door to West Coast opportunities.

    By • March 20, 2023
  • Group of multi-colored trucks parked at a truck stop in Missouri.
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    Getty Images
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    Big G Express acquires transportation, warehousing company

    The employee-owner carrier said purchasing the fellow Tennessee company allows it to gain market share with blue-chip automotive customers.

    By • March 8, 2023
  • Trucks drive above and below a highway overpass in a drone photo.
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    Getty Images
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    ArcBest sells fleet maintenance business to Cox Automotive for $100M

    CEO Judy McReynolds says services offered through FleetNet America is no longer core to company’s growth strategy.

    By • Updated March 1, 2023
  • TFI International
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    Provided by TFI International

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    TFI acquires Canada-based intermodal, brokerage provider

    Expansion through M&A has been a longtime strategy for the logistics giant, which acquired UPS Freight in 2021.

    By • Feb. 22, 2023
  • Trucks and vehicles drive along a road close together.
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    Getty Images
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    What’s ahead for the trucking industry in 2023

    Driver constraints, M&A and the need to replace aging equipment are among the issues top of mind for trucking executives.

    By • Feb. 17, 2023
  • Jones Logistics trucks on a country road.
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    Permission granted by Jones Logistics
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    Jones Logistics strengthens presence in 8 states with Nationwide Express purchase

    The company’s latest deal opens opportunities in the warehousing and intermodal markets.

    By • Feb. 9, 2023
  • Swift freight is hauled southbound on I-95 in Virginia in January 2023.
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    David Taube/Trucking Dive
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    LTL is Knight-Swift’s top M&A priority, CEO says

    “We remain very interested and, I would say, very active in the M&A world,” the executive told investors.

    By • Jan. 31, 2023
  • A person walks across a parking lot toward a series of trucks.
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    Getty Images
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    RE Garrison Trucking grows produce industry services through new acquisition

    Boaty’s Transport founder Michael Boatwright is retiring as part of a transition that will keep the brand intact.

    By • Jan. 26, 2023
  • Trucks and vehicles navigate a circular interchange.
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    Getty Images
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    RoadOne expands Southwest presence with new acquisition

    The purchase of Texas-based The Transporter Inc. is one of several M&A deals the company has closed since 2021 as it continues its rapid shopping spree.

    By • Jan. 23, 2023