Knight-Swift Acquires Dependable Highway Express
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In a move that bolsters its less-than-truckload presence on the West Coast, Knight-Swift Transportation Holdings Inc. has acquired Dependable Highway Express, a regional LTL carrier based in Los Angeles.
Knight-Swift ranks No. 7 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. Dependable Highway Express ranks No. 79.
The deal, announced July 30, adds about 10% to Knight-Swift’s LTL terminal and door counts, expanding the Phoenix-based company’s network coverage to about 70% of the U.S. population. Financial terms were not disclosed.
Miller
“This transaction increases our ability to serve customers in California, Arizona, and Nevada — key markets that are often difficult to enter,” Knight-Swift’s CEO Adam Miller said. “It’s a strategic step in our goal of building a nationwide LTL network.”
DHE, which generated approximately $122 million in revenue over the past year with a 10% operating margin, will continue to operate as a separate brand under Knight-Swift’s AAA Cooper division. Joe Finney, formerly DHE’s chief operating officer, will lead the unit as president.
The acquisition marks Knight-Swift’s latest move in the LTL sector, after its 2021 purchases of AAA Cooper and Midwest Motor Express. Industry analysts say the deal reflects growing interest in LTL services among large truckload carriers seeking to diversify their operations.
Ronald Massman, CEO of Dependable Supply Chain Services, DHE’s parent company, expressed confidence in the deal.
“We’ve watched Knight-Swift build a leading national LTL business,” Massman said. “We couldn’t have asked for a better steward of our LTL division.”
Generative AI assisted in this report.
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