Abilene Motor Express completes buyback from U.S. Xpress

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Abilene Motor Express, a Richmond, Virginia-based transportation services provider serving North America, announced it has completed the repurchase of the remaining 7 percent minority interest formerly held by U.S. Xpress Enterprises, Inc. (USXI), the nation’s third-largest privately-owned truckload carrier.

USXI’s 2006 49 percent acquisition included buyback provisions partially executed in 2007. This current transaction returns Abilene Motor Express to private ownership. Abilene is led by Keith Jones, chief executive officer and Kolen Jones, president. Abilene employs over 400 people and utilizes 350 power units, 1100 trailers, with projected 2012 revenues of $80 M.

Abilene provides both asset and non-asset based dry, temperature controlled, dedicated, expedited truckload (TL) and load-to-deliver volume less-than-truckload (LTL) transportation services through Abilene Motor Express (900 dry vans), Abilene Motor Express Temperature Control Division (200 temperature controlled vans), Abilene Logistics and AMX Leasing & Logistics.