M&A Deal Summary

Heartland Express Acquires Interstate Distributor

On July 6, 2017, Heartland Express acquired transportation company Interstate Distributor from Saltchuk Resources for 113M USD

Acquisition Highlights
  • This is Heartland Express’ 3rd transaction in the Transportation sector.
  • This is Heartland Express’ 3rd largest (disclosed) transaction.
  • This is Heartland Express’ 4th transaction in the United States.
  • This is Heartland Express’ 2nd transaction in Washington.

M&A Deal Summary
Date 2017-07-06
Target Interstate Distributor
Sector Transportation
Buyer(s) Heartland Express
Sellers(s) Saltchuk Resources
Deal Type Divestiture
Deal Value 113M USD
Advisor(s) Zachary Scott Investment Bankers (Financial)
Garvey Schubert Barer (Legal)

Target

Interstate Distributor

Tacoma, Washington, United States
Interstate Distributor Co. is a provider of dry van truckload transportation services, including local, regional, dedicated, and transcontinental services. Interstate Distributor Co. was founded in 1933 and is headquartered in Tacoma, Washington.

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Buyer(S) 1

Buyer

Heartland Express

North Liberty, Iowa, United States
Category Company
Founded 1978
Sector Transportation
Employees6,040
Revenue 1.2B USD (2023)
DESCRIPTION

Heartland Express provides truckload transportation services that enables companies to deliver service across their transportation network and improve customer satisfaction. Heartland Express was formed in 1978 and is based in North Liberty, Iowa.

DEAL STATS #
Overall 4 of 6
Sector (Transportation) 3 of 5
Type (Divestiture) 1 of 2
State (Washington) 2 of 2
Country (United States) 4 of 6
Year (2017) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-10 XPIENT Solutions

Charlotte, North Carolina, United States

XPIENT Solutions is an organization of highly qualified restaurant and software development specialists devoted to business process improvement and professional support services for the foodservice industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Smith Transport

Roaring Spring, Pennsylvania, United States

Smith Transport is a provider of dry van transportation and other specialized services to retailers, beverage manufacturers, and home supply companies. Smith Transport was founded in 1982 and is based in Roaring Spring, Pennsylvania.

Buy $170M

Seller(S) 1

SELLER

Saltchuk Resources

Seattle, Washington, United States
Category Company
Founded 1982
Sector Transportation
DESCRIPTION

Saltchuk Resources, Inc. is a provider of air cargo, domestic/international shipping and and trucking services. Saltchuk Resources, Inc. was founded in 1982 and is based in Seattle, Washington.

DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-06 Interstate Distributor

Tacoma, Washington, United States

Interstate Distributor Co. is a provider of dry van truckload transportation services, including local, regional, dedicated, and transcontinental services. Interstate Distributor Co. was founded in 1933 and is headquartered in Tacoma, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-20 Overseas Shipholding Group

Tampa, Florida, United States

Overseas Shipholding Group provides liquid bulk transportation services for crude oil and petroleum products in the U.S. Flag markets. The company's U.S. Flag fleet consists of Suezmax crude oil tankers, conventional and lightering ATBs, shuttle and conventional MR tankers, and non-Jones Act MR tankers participating in the U.S. Tanker Security Program. Overseas Shipholding Group is headquartered in Tampa, Florida.

Buy $950M
Mergr

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