b'DECEMBER 20, 2021FEBRUARY 13, 2022TOP 100 TRUCKING COMPANIES 5(RESHAPINGcontinuedenced enormous expansion over(TRUCKINGcontinued from page 4)from page 4) the past two years and as the59. National Retail Systems [Keystone] North Bergen, NJ Private TL/DRAYSuchisthecasewithabovecasesshow,M&Ahas (16) Penskes and (5) Knight- been a favored tool of growth60. A. Duie Pyle Inc. West Chester, PA Private TL/LTLSwifts recent deals. by many trucking companies in61. Transport Investment Pittsburgh, PA Private TL/LTLIn December, Penske Truckthe LTL space. (27)Forward Air Leasing,theleasingarmofis no different. In November, the62. Mesilla Valley Transportation Las Cruces, NM Private TLPenskeLogistics,announcedGreenefield,Tennessee-based63. IMC Companies Memphis, TN Private Intermodal/drayit had reached an agreement toLTLspecialistannouncedit64. TransAm Trucking Inc Olathe, KS Private 3PLacquire the assets of DeCaroliswaspurchasingtheassetsof TruckRentalInc.DeCarolisBarOle Trucking Inc. and the65. ContainerPort Group Cleveland, OH Private TL/Intermodal/drayTruck Rental is a family-ownedtrucking related assets of TKI66. Dependable Supply Chain Services Los Angeles, CA Private 3PLcompanyheadquarteredinIntermodal.Accordingtothe67. Challenger Group Cambridge, ONPrivate TL/LTLRochester,NYDeCarolisrelease:Theseacquisitions TruckRentalprovidetruckrepresentcontinuedexecution68. Martin Transportation SystemsByron Center, MI Private TLleasing,rental,maintenanceofForwardsroll-upstrategy69. Canada Cartage Mississauga, ON PrivateLTL/TL/drayand repair services to the foodin Intermodal, which began in70. Daylight Transport Long Beach, CA Private LTL/Expedited/LHprocessinganddistribution,2014withtheacquisitionof consumerdistributionandCentral States Trucking. Both71. Central Freight Lines Waco, TX Private LTLfreight hauling industries. TheacquisitionswillprovideFor- 72. Oak Harbor Freight Lines Auburn, WA Private LTLacquisition immediately addedwardwithadditionalcapacity73. Wilson Logistics Springfield, MO Private TLaround 2,350 units to Penskesand resources to meet current fleetandboostedthecompa- customer demands in the inter- 74. Sterling Transportation Los Angeles, CA PrivateExpedited Freight/FLnys coverage of the food andmodal market and extend For- 75. Duncan and Sons Lines Phoenix, AZ Private TLbeverage sector. The DeCaroliswards service footprint in the purchase comes almost exactlyMinneapolisSaint Paul, Min- 76. Raven Transport Jacksonville, FL Private TL/Intermodala year after Penskes comple- nesotaarea.Theacquisition77. RJR Transportation El Paso, IL Private TLtion of the acquisition of pri- of BarOle will also provide a78. Mesilla Valley Transport Las Cruces, NM PrivateTLvatelyheldChicago-basedlarger terminal location, allow-Black Horse Carriers in 2020.ingforfurtherexpansionin79. High Country Transportation Inc Lancaster, TX Private Dry BulkLike with other providers, Pen- thefuture.Perhapsoneof80. S&S Transport Inc. Grand Forks, ND Private TLskespurchaseshavehelpedthe understated features of the81. Hirschbach Motor Lines Dubuque, IA Private TL/LTLbolsterthestrategicneedsdeal is the 95 drivers it addsa within the companys portfolioquadrupling of Forwards total82. Horizon Freight Lines Cleveland, OH Private Intermodalof services.number of drivers in the Min- 83. Epes Transport System Greensboro, NC Private TLLike Penske, Phoenix Ari- neapolis Intermodal market. 84. Nussbaum Transportation ServicesHudson, IL Employee owned TLzona-based Knight-Swift also dipped into the M&A waters inW henW ill Ther une nD ? 85. Halvor Lines Superior, WI Private TL/LTLa big way in 2021. In July 2021The conditions underlining86. McFarland Truck Lines, Inc Austin, MN Private TL/LTLthe company announced it hadtrucking M&A in 2021, namely acquiredLTLcarrierAAAstrongdemandfortrucking87. Givens Transportation Inc. Chesapeake, VA Private TL/ExpeditedCooper for $1.35 billion. AAAservices, a labor shortage par- 88. Saddle Creek Logistic Services Lakeland, FL Private 3PLCooperaddedapproximatelyticularlyamongtruckdrivers,89. Standard Forwarding East Moline, IL Private LTL70 facilities (90% owned), con- lowinterestratesandcapital sisting of a terminal door countlooking for investment oppor- 90. Itz-Ohlson Topsfield, MA Private Intermodal/drayofover3,400,strategicallytunities added to the financial91. Saldago Family Trucking Inc. Adelanto, CA PrivateLTL/TL/draylocated across the Southeasternconditionsistheoverallshift92. R&R Express Pittsburgh, PA PrivateTL/Intermodal/drayand Midwestern United States,inthetruckingindustrya with a fleet of nearly 3,000 trac- consolidation of privately held93. Columbian Logistics Network Grand Rapids, MI Private 3PLtorsand7,000trailers.Morebusinessesintolargerbetter94. Continental Expedited Services Clarksville, TN Private Expedited Freightimportantly,themoverepre- capitalizedentities.Thisalso95. Lily Transportation Corp. Needham, MA Private TL/LTLsented a significant foray intomatches a trend towards more the LTL market. In the releasetruckingcompaniesadding96. McLeod Express Decatur, IL Private LTLfollowingtheannouncement,assetlightservicesandtech- 97. M&W Transportation Nashville, TN Private 3PLKnight-Swift said it had threenology. While 2022, may not main requirements for acquir- see as robust M&A activity as98. John Christner Trucking Sapulpa, OK Private TLingitsfirstLTLoperation:the current year, it is movement99. Ward Transport & Logistics Corp. Altoona, PA Private LTLThe company needed to haveunlikely to significantly slow in significantmarketshare,bethe near term. 100. Bill Davis Trucking Batesville, AK Private TLprofitableandhavemanage-mentdepthtooperateinde-pendently and maintain a good company culture. Knight-Swift CEO Dave Jackson, said in the statement,We were excited to have identified AAA Cooper as a partner that meets all three requirementsThistransac-tionfirmlypositionsusasa meaningful player in the LTL space, where we intend to grow bothorganicallyandthrough future acquisitions.Thecommentfuture acquisitions,wastellingas inDecember,Knight-Swift boughtMMEHoldings,the holdingcompanyforanother well-known LTL carrier, Mid-west Motor Express for $150 million. Besides a blue-chip customerlisttheMME acquisition adds a network of over 30 service centers with a door count of approximately 800, located across the upper Midwestern and great North-western U.S. and adds a fleet of approximately 460 tractors and 930 trailers.The LTL sector has experi-'