M&A
TA Dedicated announced the acquisition of Triangle Warehouse to enhance its warehousing and supply chain services in the Upper Midwest. The transaction includes approximately 150 power units, with specific terms not disclosed.
Kriska Transportation Group (KTG) further expands its footprint in temperature-controlled transportation and cross-border logistics through the acquisition of Sharp Transportation Systems. Left Lane Associates served as advisor on the transaction, and Sharp will continue operations and retain its existing services.
Ace Doran, an Ohio-based flatbed, heavy-haul, and specialized transportation company, announced the acquisition of equipment from NHH Services of Indiana, along with its drivers and office personnel, to form a new division. This move aims to expand its share of the heavy-haul market and support nationwide transportation operations.
Estes Logistics, a subsidiary of Estes Express Lines, announced the acquisition of Washington State family-owned business Key Trucking effective January 1, significantly expanding its footprint in the Pacific Northwest. The acquisition brings over 25 power units and 100 trailers, with all employees retained. Key Trucking will serve as a vital gateway for Estes Logistics to Alaska, and its existing customers will continue to receive the same level of service while gaining access to Estes' scale and resources.
Schneider National released its financial results on January 29, showing a 14% year-over-year decline in fourth-quarter operating profit to $36.5 million, primarily due to weak freight demand and lower volumes. The company expects full-year 2026 earnings per share of $0.70 to $1.00. Despite the overall profit decline, the business from the Cowan Systems acquisition boosted truckload segment revenue by 9% year-over-year to $49.9 million. Management emphasized growth resilience in specialized areas such as food and beverage, home improvement, and automotive parts, and plans to continue expanding its dedicated transportation business.
Werner Enterprises announced on Wednesday that it has completed the all-cash acquisition of FirstFleet and 11 strategically located properties for a total of $282.8 million, with the properties portion valued at approximately $37.8 million. The transaction officially closed on Tuesday, adding approximately 2,400 tractors to Werner's dedicated transportation segment, bringing the total size of that segment to nearly 7,400 tractors. Werner expects the acquisition to drive approximately 50% growth in dedicated transportation revenue and achieve annualized synergies of approximately $18 million within two years.
Echo Global Logistics announced on March 25, 2026, the completion of its acquisition of ITS Logistics. The combined transportation and logistics giant has an estimated 2025 revenue of $5.2 billion, lower than the previously expected $5.4 billion. Both Echo CEO Doug Waggoner and ITS CEO Scott Pruneau stated that the merger will integrate the two companies' complementary capabilities to provide customers with a broader range of services.
Knight-Swift's truckload brand Abilene Motor Express announced it will merge into sister company Swift Transportation. The brand will gradually exit the market after operating until January 27, 2027, with transition support provided to drivers and customers.
It has been one year since Schneider National acquired Cowan Systems for $390 million. In an interview, Cowan President Steve Wiles stated that the integration has brought improved customer experience, better employee retention, and geographic expansion opportunities. In the future, the focus will be on developing lightweight and just-in-time services and entering new markets.
Private equity firm Avkha Equity Holdings has completed the acquisition of family-owned Dart Transport, Dart Express, and their subsidiaries, effective January 1. Following the transaction, day-to-day operations, the Dart name, and operating entities remain unchanged, and financial terms were not disclosed. Tom Witt has been named CEO, David Oren continues as president of Dart Express, and his father Don has retired. The business has been run by the Oren family for over 90 years, starting with a single truck driven by Earl Oren in 1934.