AAA Cooper Transportation (ACT) Bought Out By Knight-Swift For $1.35 billion

[Mike]

A Phoenix-based transportation and logistics company, the nation’s largest truckload carrier, has bought Dothan’s AAA Cooper Transportation for $1.35 billion.

It’s a deal that moves Knight-Swift Transportation Holdings further into the less-than-truckload (LTL) business sector affecting retail and e-commerce.

The price was $1.3 billion in cash, $10 million in Knight-Swift shares, and approximately $40 million in assumed debt. Cash for the transaction was funded from a new $1.2 billion term loan provided by Bank of America to Knight-Swift.

Alabama trucking company acquired for $1.35 billion

Phoenix-based Knight-Swift Transportation Holdings is a transportation and logistics services operating throughout North America.

www.al.com

 

[Mike]

This has been tried in reverse and failed. Con-Way bought CFI to take over the full truckload empire, failed at it and sold to XPO. XPO failed at it, and just gave up the truckload to a Canadian company to revived the CFI name.

Now, a truckload carrier is going to take over the LTL world via an acquisition.

Remember Schneider buying out a couple companies to take over the final mile world? Pretty sure that was an epic failure as well.

Stay in your lane!

 

[Electric Chicken]

UPS bought Overnite because hey how hard can it be, right? Now it's "TForce" because Transforce is too LGBTQXYZmotherfucker for people who wear sunglasses at night.

 

[Rigjockey]

This has been tried in reverse and failed. Con-Way bought CFI to take over the full truckload empire, failed at it and sold to XPO. XPO failed at it, and just gave up the truckload to a Canadian company to revived the CFI name.

TFI or Trans Force International. Based out of Mont(un)real.

 

[Rigjockey]

UPS bought Overnite because hey how hard can it be, right? Now it's "TForce" because Transforce is too LGBTQXYZmotherfucker for people who wear sunglasses at night.

It is pretty funny because, Canada Cartage used to do the UPS freight that used to be Overnite and now the UPS Frieght and trailers are painted over and now it is just Canada Carnage.

 

[Sinister]

UPS bought Overnite because hey how hard can it be, right? Now it's "TForce" because Transforce is too LGBTQXYZmotherfucker for people who wear sunglasses at night.

Thise wwre two companies with similar business models to begun with.

 

[Mike]

TFI or Trans Force International. Based out of Mont(un)real.

The name is too small on the trailers for me to plug into my head permanently.

What I do know is that most of the office in Joplin has remained since it was CFI, and they are running the company out of that location again now.

CFI was a big sponsor for Bill Mack, who I listened to for years. He made me want to drive for them, until I found out that they went from my location at the time to Canada, then down into NYC, then got me back toward home. It was a triangle operation that I was not interested in at all. I was already going into Canada regularly, but had no interest in making NYC a regular part of my life.

 

[Rigjockey]

UPS bought Overnite because hey how hard can it be, right? Now it's "TForce" because Transforce is too LGBTQXYZmotherfucker for people who wear sunglasses at night.

UPS freight was just hemorrhaging money. They where more than happy to unload the freight division to TFI.
Like @Mike said stay in your lane. UPS knows parcel delivery and they excel at it. they are not too good with LTL and FL.

 

[Mike]

UPS freight was just hemorrhaging money. They where more than happy to unload the freight division to TFI.
Like @Mike said stay in your lane. UPS knows parcel delivery and they excel at it. they are not too good with LTL and FL.

I don't hate them for trying, but when it comes to trucking, things are just different in each aspect of the industry. You don't just jump into an area and support it with your normal operation plus a few folks from the previous company.

First off, when things go south, the companies that you deal with already know you bought out a company so they are looking for problems.

You actually need additional staff to deal with the minor bumps in the road to make is succeed, and unless you went into the buyout with a ton of money to invest beyond the buyout, you are going to FAIL.

 

[Rigjockey]

I don't hate them for trying, but when it comes to trucking, things are just different in each aspect of the industry. You don't just jump into an area and support it with your normal operation plus a few folks from the previous company.

I agree completely!
You don't just put asses in the seats,(literally and figuratively) office or truck seats. You need the right kind of people.

I know drivers that LTL is just not for them. C'est la vie. ( that's life).
I have had to endure C.O.O.'s that came from other industries that have no fucking clue about the trucking industry.

 

[Mike]

I have had to endure C.O.O.'s that came from other industries that have no fucking clue about the trucking industry.

We have all dealt with this without knowing it. We just see changes one day with no explanation, disconnect our CB and jump to another brand. That has been the history of trucking in regards to the drivers.

 

[Uncle Birchy]

We have all dealt with this without knowing it. We just see changes one day with no explanation, disconnect our CB and jump to another brand. That has been the history of trucking in regards to the drivers.

Oftentimes only to find the same bullcrap or even worse at the new job

 

[Hammer166]

UPS freight was just hemorrhaging money. They where more than happy to unload the freight division to TFI.
Like @Mike said stay in your lane. UPS knows parcel delivery and they excel at it. they are not too good with LTL and FL.

They aren't real whoopie at automotive logistics, either. If anyone from brown realized how poorly things were ran they'd likely have an aneurysm.

 

[Mike]

They aren't real whoopie at automotive logistics, either. If anyone from brown realized how poorly things were ran they'd likely have an aneurysm.

They get X number for what it takes to get a car loaded and what it takes to get a car delivered, and the transport cost. 1+1+1=3. It blows their mind when those 1 numbers aren't absolute.

 

[Electric Chicken]

I don't hate them for trying, but when it comes to trucking, things are just different in each aspect of the industry. You don't just jump into an area and support it with your normal operation plus a few folks from the previous company.

First off, when things go south, the companies that you deal with already know you bought out a company so they are looking for problems.

You actually need additional staff to deal with the minor bumps in the road to make is succeed, and unless you went into the buyout with a ton of money to invest beyond the buyout, you are going to FAIL.

I'ma get into heavy haul and put Ch19 out of business.