Heartland Express is poised to become the eighth-largest truckload fleet in the U.S. following its acquisition of Contract Freighters.
The purchase includes Contract Freighters (CFI) assets and operations based in Missouri, as well as CFI Logistica in Mexico. Heartland Express, headquartered in North Liberty, Iowa, would reportedly acquire 2,000 tractors, 7,800 trailers, and keep upwards of 2,800 staff members in place once the $525 million deal closes.
“CFI has exactly what we look for as we expand — significant scale, a respected and recognizable brand, capable management, safe and experienced drivers, a strong asset base and a complementary terminal network,” Heartland Express Chairman, President and CEO Michael Gerdin reportedly said. “We believe CFI’s drivers will benefit from our extensive owned terminal network, in which we have invested millions of dollars to improve our drivers’ experience. As with every acquisition, our plan is to capitalize on each other’s strengths and improve consolidated profitability.”
Heartland Express was founded in 1955 as a Whirlpool washing machine hauler. The CFI buy would reportedly grow its holdings to 5,500 semi-tractors and close to 18,000 trailers. All told, Heartland would possess assets close to $2 billion and is expected to generate annual revenue upwards of $1.3 billion.
RoadOne Secures Oakland Footprint
RoadOne Intermodal Logistics is breaking into the Oakland, California, market with its purchase of R&A Trucking.
“Expanding our capabilities on the U.S. West Coast, and specifically in Oakland, is an important development that enhances the services we offer our cargo owning supply chain customers,” RoadOne CEO Ken Kellaway reportedly stated. “R&A is a well-established, nearly 50-year-old company with dedicated transload, trucking, and intermodal services that further strengthen our national portfolio.”
The acquisition adds 20 fleet drivers and an additional 370,000 square feet of warehouse space in the Oakland area to augment RoadOne’s portfolio which includes 2,000 trucks and 75 million square feet of warehouse space. R&A Trucking services California, Nevada, Oregon, and Washington State with local and over-the-road freight hauls.
First Turn Trucking Adds Warehousing
First Turn Trucking is working closely with the Ohio Southeast Economic Development and Adams County Economic & Community Development to increase its warehouse footprint and add to its employment rolls.
First Turn Trucking, an over-the-road outfit with a flatbed specialization geared toward metal and lumber materials, covers Ohio and abutting states. The organization recently announced it would invest upwards of $210,000 into expanded warehouse space in West Union, Ohio.
“First Turn Trucking appreciates the support from JobsOhio, OhioSE, and Adams County in growing in the community,” First Turn Trucking owner Blake Skaggs reportedly said. “Assistance from this project will help our team invest in Adams County, add jobs and better serve our customers.”
The JobsOhio program reportedly provided a $25,000 JobsOhio Inclusion Grant.
Sources:
https://www.freightwaves.com/news/roadones-latest-acquisition-expands-network-to-include-oakland
https://www.radioiowa.com/2022/08/24/iowa-trucking-firm-poised-have-nations-8th-largest-fleet/
https://highlandcountypress.com/Content/In-The-News/Headlines/Article/Johnson-celebrates-trucking-and-logistics-expansion-in-Adams-County/2/73/82762
https://newjersey.news12.com/1-2m-going-to-new-electric-garbage-truck-in-hoboken
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