Central refrigerated purchased by swift???

Discussion in 'Refrigerated Trucking Forum' started by Theramsey3, Aug 6, 2013.

  1. Theramsey3

    Theramsey3 Bobtail Member

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    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?
     
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  3. dekeons

    dekeons Bobtail Member

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    Jul 1, 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.
     
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  4. FLATBED

    FLATBED Road Train Member

    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 operations
     
  5. chalupa

    chalupa Road Train Member

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    And Central was the left overs from stinky Simon wasn't it?
     
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  6. FLATBED

    FLATBED Road Train Member

    Yes Jerry picked it up after the bankruptcy for $0.01's on the $1.00
     
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  7. ghostrunner

    ghostrunner Light Load Member

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  8. Wolfyinc

    Wolfyinc Road Train Member

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    wasnt it originally in his daughters name or something like that? could of been one of those trucker rumors out there I heard once...
     
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  9. FLATBED

    FLATBED Road Train Member

    Jerrys kids / Family are major shareholders ( Central & Swift ) , also had Central Transport in Texas as part of their holdings
     
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  10. snowwy

    snowwy Road Train Member

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    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.
     
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  11. Lone Ranger 13

    Lone Ranger 13 Road Train Member

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    Someone oughta tell the swift drivers they can't play with the reefers.... no pushing buttons to see what happens.
     
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