Knight-Swift Acquires U.S. Xpress Enterprises for ~$808M
July 1, 2023
Knight-Swift Transportation Holdings agreed to acquire U.S. Xpress Enterprises for a total enterprise value of approximately $808 million, paying $6.15 per share; the transaction was approved by shareholders and closed on July 1, 2023. U.S. Xpress will continue to operate as a separate brand, with the Fuller family rolling over a portion of their equity into an approximately 10% interest in a new Knight-Swift subsidiary holding the business.
- Buyers
- Knight-Swift Transportation Holdings Inc.
- Targets
- U.S. Xpress Enterprises, Inc.
- Sellers
- U.S. Xpress shareholders, Fuller family (Max Fuller, Eric Fuller and related entities)
- Industry
- Transportation
- Location
- Tennessee, United States
- Transaction Type
- Buyout
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