July 9 - Trucking goes gangbusters, and with that comes M&A

Werner buys ECM Transport for $142M in first TL acquisition; XPO Logistics names contract-logistics business GXO; UPS sells Freight segment to TFI for $800M; Leonard's Express expands reefer capacity through M&A as spot rates rise View online | Signup | Forward

Daily Dive July​ 9,​ 2021 | Today's news and insights for transport leaders Note from the editor This week, I headed back into the office for the first time since March 11, 2020. Back then, the trucking sector was seen as recovering from a minor freight recession and industrial downturn. Then came COVID-19. Now, the freight economy is bouncing back and, we hope, the worst of the COVID-19 pandemic is behind us. Truly, trucking is going gangbusters. The recovery caused an uptick in M&A activity, the subject of today's newsletter. Werner bought ECM Transport in its first TL acquisition, and Knight-Swift took its first dive into the LTL industry with a $1.35 billion purchase of AAA Cooper. Read about the latter here. If you find value in this story and others on Transport Dive, we hope you’ll take a moment and encourage your team members and colleagues to also subscribe. Share this link to get them signed up: https://www.transportdive.com/signup/insiders/?signup_referred_by=5f93078d7aa51972095c9316 Jim Stinson Senior reporter, Transport Dive Twitter | Email Knight-Swift becomes LTL competitor with $1.35B acquisition CEO Dave Jackson said his firm will benefit from more favorable driver retention and lower equipment costs.  Werner buys ECM Transport for $142M in first TL acquisition The purchase increases Werner's exposure to high-velocity shipments and shorter hauls, at a time when carriers are eager to hold on to drivers. UPDATED XPO Logistics names contract-logistics business GXO The company's spinoff splits it into two: a global LTL carrier and transport broker, and a provider of third-party logistics. UPS sells Freight segment to TFI for $800M The sale focuses UPS on its core parcel businesses while allowing TFI to expand its diverse trucking portfolio in a continued acquisition spree. Leonard's Express expands reefer capacity through M&A as spot rates rise The carrier is acquiring Holman Transportation Services, which hauls in the food and grocery, dairy, and frozen food industries. Why experts are bullish on transport M&A in 2021 "Pent-up" demand to buy is already showing its face this year, with James Richardson & Sons and Wescan Capital acquiring 100% of the shares of Bison Transport. Read more news What We're Reading CDLLife Bay Area Teamsters holding their first-ever union job fair in desperate attempt to recruit truckers & more FreightWaves Former employees shed light on sophisticated double-brokering network Smart Cities Dive New York passed LA as the most congested US metro region in 2020: report HR Dive Paid time off doesn't work — but minimum time off does CBS News Democrats race to bring bipartisan infrastructure deal to the Senate floor Suggest a story we should read Dive Into a Topic Technology Regulatory Workforce Safety Operations Equipment Infrastructure Share Transport Dive: Daily Dive with others and get rewarded. You've referred 0 readers. To become an official Dive Insider, just successfully refer 10 contacts to Transport Dive: Daily Dive. Here's your link to share: https://www.transportdive.com/signup/insiders/?signup_referred_by=5f93078d7aa51972095c9316

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