Drivers

Swift Transportation Acquires Central Refrigerated Transportation

August 07, 2013

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Swift Transportation announced today that it acquired privately held Central Refrigerated Transportation, in a transaction valued at $225 million, including approximately $189 million in cash and $36 million of assumed capital lease obligations and other financial debt.  

Photo: Evan Lockridge
Photo: Evan Lockridge

Jerry Moyes, the Chief Executive Officer and controlling stockholder of Swift, was the principal owner of Central.

Headquartered in West Valley City, Utah, Central is a truckload carrier specializing in temperature-controlled freight transportation and is reportedly  the fifth-largest provider of temperature-controlled truckload services in the U.S., generating $504 million of revenue. 

The combination of Central's business with Swift's existing refrigerated business is expected to make Swift the nation's second largest temperature-controlled truckload provider.

The Swift board of directors established a special committee in May of 2011 to evaluate Swift`s expansion of its temperature-controlled operations, including the potential acquisition of Central, as well as other acquisition candidates.

Comments

  1. 1. M johnson [ March 11, 2014 @ 04:32PM ]

    The rollout of the conversion of the Swift Qualcomm "system" to use in the Central Refrigerated trucks has been less than a failure. It has resulted in many drivers quitting and tractor assets sitting in terminals. The maintenance of the trucks and trailers is so convoluted that it will eventually cause massive amounts of DOT violations and loss of more drivers. If Swift had left the existing Qualcomm system in place in the Central trucks, or converting the outdated Swift system to the Central system, it would have been better for Swift.

    I used to be a happy Central employee. I am now a disgusted Swift employee that is looking for someone to take over my lease so I can leave and not have my DAC affected as they told me they would do if I just dropped the equipment at a Swift terminal.

    Poor training and the bilnd leading the blind is not a good solution for integrating one company into another.

  2. 2. M johnson [ March 11, 2014 @ 04:33PM ]

    The rollout of the conversion of the Swift Qualcomm "system" to use in the Central Refrigerated trucks has been less than a failure. It has resulted in many drivers quitting and tractor assets sitting in terminals. The maintenance of the trucks and trailers is so convoluted that it will eventually cause massive amounts of DOT violations and loss of more drivers. If Swift had left the existing Qualcomm system in place in the Central trucks, or converting the outdated Swift system to the Central system, it would have been better for Swift.

    I used to be a happy Central employee. I am now a disgusted Swift employee that is looking for someone to take over my lease so I can leave and not have my DAC affected as they told me they would do if I just dropped the equipment at a Swift terminal.

    Poor training and the blind leading the blind is not a good solution for integrating one company into another.

 

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