Knight-Swift enters LTL arena with $1.35B acquisition of AAA Cooper - FreightWaves
Did u guys see this?
Swift enters ltl world
Discussion in 'LTL and Local Delivery Trucking Forum' started by D.Tibbitt, Jul 6, 2021.
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Flat Earth Trucker, God prefers Diesels, Dave_in_AZ and 1 other person Thank this.
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Pretty amazing stuff.Dave_in_AZ, Rideandrepair and D.Tibbitt Thank this. -
Oh gawd...
I’ve seen Swift drivers that would take 20 minutes to back up to a dock door out in the middle of a 10,000 acre airfield and still hit it so crooked the plate won’t even fit on the trailer.
This is scary.nredfor88, Brettj3876, hotrod1653 and 15 others Thank this. -
Better start ordering Xmas presents early this year. It might show up by 12/24
WildTiger1990, hotrod1653, Speed_Drums and 8 others Thank this. -
12/24 of what year?
Lumper Humper, Speed_Drums, God prefers Diesels and 11 others Thank this. -
Hell, they can't do any worse than most of the LTL companies are doing this year.
BigBob410, Rideandrepair, Rollr4872 and 2 others Thank this. -
If they at least have a pallet jack on board that'll put them a few pegs higher than a lot of the LTL carriers I've had to deal with lately.
God prefers Diesels, BigBob410, Rideandrepair and 4 others Thank this. -
If they needed to borrow the money to make the deal if makes you wonder if some bank down the road is in for a world of hurt.
Rideandrepair, Cattleman84, Savor the Flavor and 1 other person Thank this. -
LTL is a rough neighborhood. Two established carriers are in trouble. Amazon not only pulled their business - costing several LTL carriers > 30% of their revenue - they’re now renting out their additional capacity 8 months out of the year and competing directly in the LTL marketplace.
This acquisition is an odd choice for Swift/Knight. A national carrier buying a regional LTL carrier? A national carrier that churns through trainee drivers paying them about half what they’ll make the year after they quit entering into an industry that depends on consistent, reliable drivers who chose their runs based on seniority? Echoes of UPS acquiring Overnite (How hard can it be?). I predict a fire sale in about 5 years as Knight/Swift tries to stop the burning sensation in their cash flows. -
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