Knight-Swift Transportation Holdings and U.S. Xpress Enterprises plan to merge in a deal worth approximately $808 million, including debt and equity.
Knight-Swift Transportation Holdings and U.S. Xpress Enterprises plan to merge in a deal worth approximately $808 million, including debt and equity. The deal would add one of the largest and most well-known brands in the industry and increase the revenue base by nearly 30% for Knight-Swift.
The deal also requires the approval of U.S. Xpress shareholders, who own about 58% of the company. The CEO and President of Knight-Swift, Eric Fuller, and the CEO and President of U.S. Xpress, Eric Peterson, will transition out of their roles along with other family members. The deal is expected to close in late Q2 or early Q3.
Most Americans support more truck parking, but not near their homes. Many Americans are unaware of the truck parking shortage and its impacts on safety and productivity. Americans value truck drivers and their service, but underestimate how many hours they can drive in a day. The survey calls for more public awareness and government funding to address the truck parking issue.
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A group of truck safety advocates wrote a letter to Transportation Secretary Pete Buttigieg urging him to take steps to prevent hazmat crashes and save lives. The letter called for automatic emergency braking on all commercial motor vehicles, hours-of-service rule reform, and opposition to anti-safety trucking legislation.
The letter was motivated by a recent train derailment in Ohio that spilled hazardous chemicals and revealed dangerous deficiencies in the rail and truck transportation of hazardous materials.
Border patrol officers seized over $1 million worth of marijuana found on a tractor-trailer crossing the border from Mexico recently.
The tractor-trailer was loaded with a shipment of uncoated paperboard and was referred for secondary inspection at the World Trade Bridge in Laredo, Texas. The officers discovered 454 pounds of alleged marijuana with a street value of $1,015,992 and CBP seized the narcotics.
Gasoline tanker truck flipped on I-5 near Lacey in the rain. One of the tankers ruptured and leaked its fuel. The other was intact and its contents were being moved to another truck. The truck driver and a passenger suffered minor injuries and were taken to a hospital.
Only one lane of I-5 was open for most of the day. Authorities advised travelers to stay away from the area, which is about 5 miles west of Olympia.
A fire destroyed a TA Express in northern Oregon on March 7. No one was hurt, but the cause is unknown. The TA Express had several restaurants and amenities for truck drivers. Drivers are advised to use another TA store in Troutdale, Oregon.
The Louisiana Motor Transport Association (LMTA) Foundation recently announced its trucker of the year award winner, and honored a safety professional of the year as well.
The Louisiana Motor Transport Association (LMTA) Foundation recently announced its trucker of the year award winner, and honored a safety professional of the year as well.
Landry serves as the lead examiner, he received his commercial license in 1992. He has worked with SLCC turning his time and talents over to teaching the next generation of drivers, significantly impacting the incoming workforce for the trucking industry, according to the LMTA Foundation.
Stocks holds over 30 years of safety and compliance experience within the trucking history and 14 years of military service in the United States Marine Corps.
Tom Love, who, along with his wife and business partner, Judy, founded a family-owned and -operated network of more than 600, passed away at the age of 85 in his hometown of Oklahoma City. Tom Love was a man of conviction who never wavered from the principles of honesty and integrity in the 59 years he spent developing the company he started with his wife, Judy,” said Shane Wharton, president of Love`s. In many respects, he was an ordinary person who built an extraordinary business alongside his wife Judy and his family, who he loved deeply.
During the special enforcement detail “Operation Southern Shield”, the Arizona Department of Pulice Safety`s Commercial Vehicle Enforcement Task Force and partners completed 693 inspections and recorded 2,238 driver-vehicle examination report violations.
Throughout the operation, CVETF personnel placed special emphasis on violations involving reckless driving, failure to use a turn signal or improper signaling, failure to yield the right of way, and improper lane changes, according to a statement from the ADPS.
The CVSA will conduct a 72-hour inspection of commercial vehicles and drivers in North America from May 16-18. The inspection will focus on brake systems and cargo securement, which are important for preventing crashes and hazards.
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Knight-Swift Transportation Holdings and U.S. Xpress Enterprises have announced a major mutually beneficial transaction with a total value of as much as $ 808 million. This solution will combine their capital, as well as all existing debt obligations of the companies. Why would such a solution be needed?
Combining the two companies will help them increase revenue by 30-35% in total, as well as raise the payback of Knight-Swift and make one more recognizable brand. Adherents of both companies can form a more massive purchasing capital.
So far, the decision has not been made definitively, and a decision is expected from the American shareholders of Xpress. It is also reported that CEO Eric Fuller (Knight-Shift) and CEO Eric Peterson (U.S.Xpress) will no longer hold their positions. The confirmation of the transaction itself and the signing of all final documents are expected in the 2nd or 3rd quarter of this year.
The main points after the signing of the deal can be noted: the growth of Knight-Swift's revenue base, the adjustment of the operating coefficient by 2026, as well as the adjustment of the return on investment. Also, with the help of additional rewards for Xpress shareholders and by reducing Knight-Swift's cash flows, it will be possible to achieve a competent asset allocation by the time the deal is signed.
The main points after the signing of the deal can be noted: the growth of Knight-Swift's revenue base, the adjustment of the operating coefficient by 2026, as well as the adjustment of the return on investment. Also, with the help of additional rewards for Xpress shareholders and by reducing Knight-Swift's cash flows, it will be possible to achieve a competent asset allocation by the time the deal is signed.