U.S. Xpress Enterprises and Smith Transport jointly announced Thursday, Oct. 2, that the companies have completed a transaction in which U.S. Xpress Enterprises will acquire a 47 percent interest in Smith Transport and its affiliated companies. Financial terms were not made public.
The Smith management team, led by President Barry Smith, will remain in place and initially control a majority 53 percent interest in Smith, which will operate independently from U.S. Xpress utilizing its current facilities. Barry Smith will continue to wholly own and independently operate his warehouse operations.
Smith is a truckload carrier that provides medium length of haul and dedicated dry van service primarily in the eastern United States. Its primary operating centers are in Roaring Spring, Pa.; Remington, Ind.; and Atlanta. The company currently operates 850 tractors and
about 3,000 trailers.
U.S. Xpress Enterprises, based in Chattanooga, Tenn., is the nation’s third-largest privately-owned truckload carrier with a fleet of 7,500 tractors and 22,000 trailers.