CHATTANOOGA, TENN. – December 6, 2012 – U.S. Xpress Enterprises, a leading provider of transportation services throughout North America, has announced a merger of the company’s Arnold Transportation Services with LinkAmerica Corp., a Ft. Worth-based truckload and logistics carrier serving the Southeast and Southwest. LinkAmerica is owned by Tenex Capital Management, a New York-based investment firm. The merger will be completed in January, 2013.
The combined company will operate under the Arnold name and employ more than 1800 drivers. Tenex Capital and U.S. Xpress will jointly own and operate the new company.
This strategic move extends Arnold's dominance in the regional market with increased capacity, taking Arnold to more than 1,400 trucks and 5,000 trailers. This footprint supplements existing business and allows the expansion of network coverage and further accelerates overall company growth plans, which will afford even more driving opportunities. Arnold expects more than $220 million in annual revenue from the combined organization.
"With this merger, Arnold Transportation Services will be the 32nd largest truckload operation in the United States, offering top-notch service for high-demand regional freight,” said Todd Smith, chief executive officer, Arnold Transportation Services. “The deal compliments our current business model and supports the goals of growing and attracting more drivers.”
About Arnold Transportation Services:
Arnold Transportation Services, a Jacksonville, FL based primary regional carrier in business for 75+ years, offers the best in dry van services stretching from the Northeast to the Southwest. For more information, visit http://arnoldtrans.com.
About LinkAmerica Corp.:
LinkAmerica Corp. is a leading transportation and logistics services company that provides its customers with personalized, on-time service. LinkAmerica provides transportation services throughout the continental United States specializing in the Southeast, South Central, and Southwest regions, including dedicated and truckload perations, logistics services, and brokerage throughout the United States. For more information, visit www.lkam.com.
About Tenex Capital Management:
Tenex Capital Management is a private equity fund that invests in middle-market companies. The company utilizes an in-house team of hybrid professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. With deep operating experience in capitalizing on business and market opportunities, Tenex has established a successful track record investing in diverse industries, including transportation, industrials, manufacturing, and health and business services. More information can be found at www.tenexcm.com.
About U.S. Xpress Enterprises:
Founded in 1985, U.S. Xpress Enterprises is the nation’s second largest privately-owned truckload carrier, providing a wide variety of transportation solutions throughout North America. We are committed to being at the forefront of safety compliance, using comprehensive training for our staff and drivers and ensuring our trucks feature the latest safety innovations. With a dedication to minimizing our impact on the environment, U.S. Xpress is a SmartWay Transport Partner and was honored with a 2009 SmartWay Environmental Excellence Award. U.S. Xpress Enterprises’ affiliates include Arnold Transportation Services, Smith Transport, Total Transportation of Mississippi, Xpress Global Systems, and Xpress Internacional. For more information, please visit www.usxpress.com.
