M&A Deal Summary

Knight-Swift Transportation Acquires U.S. Xpress

On March 21, 2023, Knight-Swift Transportation acquired transportation company U.S. Xpress for 808M USD

Acquisition Highlights
  • This is Knight-Swift Transportation’s 6th transaction in the Transportation sector.
  • This is Knight-Swift Transportation’s 2nd largest (disclosed) transaction.
  • This is Knight-Swift Transportation’s 7th transaction in the United States.
  • This is Knight-Swift Transportation’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2023-03-21
Target U.S. Xpress
Sector Transportation
Buyer(s) Knight-Swift Transportation
Deal Type Add-on Acquisition
Deal Value 808M USD
Advisor(s) J.P. Morgan Securities (Financial)
King & Spalding LLP
Holland & Hart LLP (Legal)

Target

U.S. Xpress

Chattanooga, Tennessee, United States
website
U.S. Xpress provides truckload carrier services in North America offers solo truckload, long haul and expedited load, demand critical, and intermodal transportation services; and logistics, brokerage, and specialized LTL services. U.S. Xpress was founded in 1985 and is based in Chattanooga, Tennessee.

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Buyer(S) 1

Buyer

Knight-Swift Transportation

Phoenix, Arizona, United States

website

Category Company
Founded 1989
Sector Transportation
Employees28,100
Revenue 7.4B USD (2022)
DESCRIPTION
Entrance to Knight Transportation's corporate headquarters in Phoenix, Arizona.
Entrance to Knight Transportation's corporate headquarters in Phoenix, Arizona.

Knight-Swift Transportation is a provider of multiple truckload transportation and logistics services that uses a national network of service centers across the US to serve customers throughout North America. Knight also contracts with third-party equipment providers to provide a broad range of truckload services to its customers. Knight-Swift was formed in 1989 and is based in Phoenix, Arizona.

DEAL STATS #
Overall 7 of 7
Sector (Transportation) 6 of 6
Type (Add-on Acquisition) 6 of 6
State (Tennessee) 1 of 1
Country (United States) 7 of 7
Year (2023) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-06 AAA Cooper Transportation

Dothan, Alabama, United States

AAA Cooper Transportation is a less-than-truckload ("LTL") carrier that also offers dedicated contract carriage and ancillary services. AAA Cooper Transportation was founded in 1955 and is based in Dothan, Alabama.

Buy $1.4B
Mergr

Product

Company

Legal