US: Heartland Express acquired Gordon Trucking

In Iowa, United States, truckers Heartland Express, Inc. has acquired Gordon Trucking, the strongest truck network in the Western US, in a $300 million deal.

The move makes Heartland the fifth-largest truckload carrier in the US.

Michael Gerdin, Chairman, President, and Chief Executive Officer of Heartland, said: “We searched for many years for the best fit to expand our capabilities for customers, our opportunities for drivers and our growth for our stockholders.

“With Gordon Trucking, Heartland acquires a major presence in the West, affording the combined customer base significant capacity nationwide through what is expected to be one of the five largest asset-based truckload fleets in North America. It has a well-earned reputation for superior customer service, with a modern fleet and a strong safety record. Culturally speaking, it is an excellent fit."

Gordon Trucking, founded in 1946 and headquartered near Seattle, Washington, is primarily focused on dry van markets but also gains 14 percent of its revenue from refrigerated operations and 7 percent from freight brokerage operations. Its  equipment includes 2,000 tractors and 6,500 trailers and its average length of haul is 400 miles.

Its West Coast-centred operations and terminal network will dramatically increase Heartland’s size, geographic coverage, and customer diversification and its customer service, safety, and driver focus are similar.

 Larry Gordon, founder and Chairman of Gordon Trucking, said: “Owners were not eager to sell, but we considered Heartland's proposal because of our desire to be part of the best truckload carrier in the industry.

“Through these transactions, our people have the opportunity to build on a strong foundation, learn best practices, contribute to an industry leader, and gain access to new customers and geographies.”