Knight-Swift Transportation Closes Acquisition Of U.S. Xpress Enterprises And Provides Update On Market Conditions

Jul 05, 2023•about 2 years ago

Acquiring Company

Knight-Swift

Acquired Company

U.S. Xpress

LogisticsTransportationAutomotiveTransportation

Description

Effective July 1, 2023, Knight-Swift Transportation Holdings Inc. (NYSE: KNX) ("Knight-Swift" or the “Company”) closed on the previously-announced acquisition of U.S. Xpress Enterprises, Inc. ("U.S. Xpress") following the approval by U.S. Xpress’ shareholders on June 29, 2023. Upon completion of the transaction, U.S. Xpress was de-listed from the New York Stock Exchange.

Company Information

Company

Knight-Swift

About

Knight-Swift Transportation Holdings Inc. is one of North America's largest and most diversified freight transportation companies, providing multiple truckload transportation, less-than-truckload, logistics, and business services to the shipping and transportation sectors. Knight-Swift uses a nationwide network of business units and terminals in the United States and Mexico to serve customers throughout North America. In addition to operating the country's largest tractor fleet, Knight-Swift also contracts with third-party equipment providers to provide a broad range of services to its customers while creating quality driving jobs for driving associates and successful business opportunities for independent contractors.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed