I just got a message on my qualcomm from Richard stocking ceo of swift (fleet message) stating swift purchased central refrigerated. Anyone else heard anything?
Central refrigerated purchased by swift???
Discussion in 'Refrigerated Trucking Forum' started by Theramsey3, Aug 6, 2013.
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6:59PM Swift Transportation acquires Central Refrigerated Transportation in transaction valued at $225 mln (SWFT) 17.52 -0.53 : Co announced that it acquired privately held Central Refrigerated Transportation, a provider of refrigerated trucking services, in a transaction valued at $225 million, including approximately $189 million in cash and $36 million of assumed capital lease obligations and other financial debt. Central is the fifth-largest provider of temperature-controlled truckload services in the U.S., generating $504 million of revenue and $50 million of EBITDA over the twelve months ended June 30, 2013. The combination of Central's business with Swift's existing refrigerated business is expected to make Swift the nation's second largest temperature-controlled truckload provider. The transaction is expected to be immediately accretive to net earnings per diluted share before the consideration of synergies, and is expected to increase Swift's full year 2013 Adjusted EPS by approximately $0.10, excluding one-time transaction costs.
mje and Theramsey3 Thank this. -
Always was in the family so to speak
Swift Chief Executive Jerry Moyes was the principal owner of Central. Given Mr. Moyes's interests in the temperature-controlled truckload industry, Swift created a special committee in May 2011 to evaluate the expansion of its temperature-controlled operationsprecisionpower, Theramsey3, mje and 1 other person Thank this. -
And Central was the left overs from stinky Simon wasn't it?
mje Thanks this. -
Yes Jerry picked it up after the bankruptcy for $0.01's on the $1.00
mje Thanks this. -
Scary bad oh well
trkdrvrs get screwed over and mje Thank this. -
wasnt it originally in his daughters name or something like that? could of been one of those trucker rumors out there I heard once...
mje Thanks this. -
Jerrys kids / Family are major shareholders ( Central & Swift ) , also had Central Transport in Texas as part of their holdings
mje Thanks this. -
dick simon gave it to his 2 boys. who bankrupted the company in divorce court. the name was changed to central.
that's when moyes took over.
i think simon had a daughter also part of the company. i can't remember.mje Thanks this. -
Someone oughta tell the swift drivers they can't play with the reefers.... no pushing buttons to see what happens.
trkdrvrs get screwed over and mje Thank this.
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