M&A Deal Summary

Heartland Express Acquires Smith Transport

On June 1, 2022, Heartland Express acquired transportation company Smith Transport for 170M USD

Acquisition Highlights
  • This is Heartland Express’ 4th transaction in the Transportation sector.
  • This is Heartland Express’ 2nd largest (disclosed) transaction.
  • This is Heartland Express’ 5th transaction in the United States.
  • This is Heartland Express’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2022-06-01
Target Smith Transport
Sector Transportation
Buyer(s) Heartland Express
Deal Type Add-on Acquisition
Deal Value 170M USD

Target

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.

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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 5 of 6
Sector (Transportation) 4 of 5
Type (Add-on Acquisition) 4 of 4
State (Pennsylvania) 1 of 1
Country (United States) 5 of 6
Year (2022) 1 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-06 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 $113M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-22 TFI International - Contract Freighters Truckload Business

United States

TFI International's Contract Freighters Truckload Business provides dry van and temperature-controlled truckload services.

Buy $525M
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