Heartland Express Acquires Smith Transport, Inc.

Post Capital Partners and Management Acquire Smith Transportation Services

February 5, 2019

Logistics & Distribution

Post Capital Partners partnered with Smith Transportation's existing management team (Steve Smith, Bill Nichols, Jeff Maser and Christine Postlmayr) — with participation from Executive Partner Sam Woodward — to acquire Smith Transportation Services, a Sunrise, Florida-based third-party logistics and brokerage provider. Patriot Capital Group provided a unitranche debt facility and equity co-investment to support the buyout; Post Capital said the investment will fund technology investments, geographic expansion of its Load-to-Ride (LTR) offering and potential tuck-in acquisitions.

Heartland Home Services Acquires Henry Smith Plumbing, Heating & Cooling

January 18, 2022

HVAC & Mechanical

Heartland Home Services acquired Henry Smith Plumbing, Heating & Cooling on December 18, 2021, adding the Northern Indiana-based plumbing, heating and cooling contractor as the 24th brand in its platform. The target will continue operating under its existing management and technicians while gaining access to Heartland’s technology and resources; terms were not disclosed.

TFI International Acquires JHT Holdings

August 7, 2023

Logistics & Distribution

TFI International agreed to acquire JHT Holdings, an asset-light North American logistics and transportation provider that specializes in transporting Class 6-8 trucks from OEMs to dealers and end customers. JHT, based in Pleasant Prairie, Wisconsin, operates a 25-terminal network (8 owned), generates more than US$500 million in annual revenue, and is expected to close in the third quarter subject to customary adjustments.

Online Transport Acquires Mustang Express

May 19, 2023

Trucking & Fleet

Online Transport, Inc. has acquired Mustang Express, LTD, an asset-based over-the-road trucking and 3PL provider based in El Paso, Texas. The deal — advised on the sell-side by Kreshmore Group — expands Online's geographic coverage and routings with Mustang's fleet and over 60 drivers, and closed May 19, 2023.

Forward Air Acquires J&P Hall Express

April 28, 2021

Logistics & Distribution

Forward Air Corporation agreed to acquire the assets of J&P Hall Express, a privately held expedited transportation provider headquartered in Atlanta, Georgia. The asset purchase (expected to close in May 2021) expands Forward Air's LTL pickup-and-delivery footprint in southern Georgia and northern Florida, adding approximately $15.8 million in annual revenue, ~70 trucks and about 110 employees.

UMB Financial Corporation Acquires Heartland Financial USA, Inc.

April 29, 2024

Financial Services

UMB Financial Corporation completed its previously announced all-stock acquisition of Heartland Financial USA, Inc., creating a larger regional bank with approximately $68 billion in assets and expanded operations across 13 states. The deal (announced at an implied value of about $2.0 billion and using a 0.55 share exchange ratio) increases UMB's private wealth AUM by roughly 31–32%, adds more than 100 branches and ATMs, and brings HTLF operations onto UMB platforms before full brand conversion.