The trucking industry has experienced a recent shift with another trucking company acquisition. In an $83 million transaction, the Chattanooga, Tennessee trucking company Covenant Transportation Group purchased Landair Holdings. Landair includes Landair Transport and Landair Logistics, which adds a whole new fleet to the team at Covenant Transportation. As a truck driver searching for trucking jobs, now is a great time to look at Covenant Transportation and Landair as a prospective employer. Here is everything you want to know about the Covenant Transport and Landair Transport acquisition and how it will affect these two Tennessee carriers.
About Landair Holdings
In addition to owning Landair Transport and Landair Logistics, Landair Holdings provided warehousing and logistics services to freight customers. Based in Greeneville, Tennessee, Landair was established in 1981. Today the company encompasses 430 tractors and 900 trailers, plus 12 distribution facilities in warehouses. The company earned $121 million in annual revenue for 2017. The biggest slice of this revenue, $60 million, came from the company’s dedicated truckload trucking division. This covers trucking jobs that handle full truckload freight on dedicated routes, which can include both regional and over the road truck driving jobs.
President of Landair, John Tweed made the following statement: “I am excited about this combination because it will give Landair and its customers access to, and the benefit of, the comprehensive resources of CTG. Continued growth at the pace we are experiencing requires access to the resources and support of a strong partner like CTG. The alignment in company cultures should enable a smooth integration of the two well-respected organizations.” Tweed is expecting the transition to increase the productivity of both companies.
Covenant Transportation Acquisition
The way the acquisition will work is that Covenant Transportation Group will maintain the headquarters of Landair in Greeneville. However, Landair will still be led by Tweed. As for the earnings, Landair’s revenue results will be reported as part of Covenant for the truckload jobs and managed freight. This acquisition went into effect as of July 5, 2018. Covenant Transportation Group spent approximately $83 million, paid in cash by the way, to Landair for all of the carrier’s stock.
Regarding the acquisition’s success, CTG CEO and Chairman David R. Parker said, “We are very pleased to welcome the entire Landair team to the Covenant family. We pursued Landair because of their proven record of growth and profitability in the dedicated and 3PL markets, their talented management team led by John Tweed, and the quality and integrity of their culture represented by their co-founder, Scott Niswonger.”
Parker continued to add, “Landair is a perfect fit with our strategy to grow in areas where we can get closer and more heavily integrated with customers. We believe the backing of CTG will provide additional resources to expand Landair’s dedicated truckload operations to best meet the needs of its strong customer base, as well as improve profit margins through identified cost synergies. Additionally, Landair’s existing managed freight business is expected to immediately improve CTG’s collective managed freight service offering, adding experience, human capital and important additional systems capabilities.”
Driving a Truck for Covenant Transportation
If you are interested in driving a truck for Covenant Transportation, now is the right time to start your search for trucking jobs. The increased income for CTG that is coming from Landair will increase the carrier’s ability to attract more shipping customers. More revenue adds to the money CTG will be able to invest in trucking technology, truck driver safety features, and truck driver benefits. Start your search by considering which trucking jobs are picked up by Covenant Transportation truck drivers.
CTG is a holding company that is comprised of several trucking companies. These include:
- Covenant Transport Solutions in Chattanooga, Tennessee
- Southern Refrigerated Transport in Texarkana, Arkansas
- Star Transportation in Nashville, Tennessee
And now, of course, Landair can be included on this list of trucking companies. The company also owns Transport Enterprise Leasing for truck leasing and sales. To start your search for trucking jobs at any of these trucking companies, look up our trucking jobs currently available here at Careers in Gear.
Finding Trucking Jobs Now
Search specifically for these companies to see what types of trucking jobs they have open. From there, if you find a carrier and trucking job near you, go ahead and click on that Apply Now feature. You can go ahead and fill out that truck driving job application in just a few minutes without paying a dime. Send it in and expect to hear back from a trucking company soon, as long as you meet the job requirements.
We also have company profiles for all of the major trucking companies in the US. You’ll be able to find trucking companies in your city and state, as well, which can make it easier to look for local trucking jobs. A tip is to apply for trucking jobs you like as soon as possible. These jobs are often the best paying, best routes, and for the best trucking companies. These are not going to stick around. Be the truck driver who gets the top paying trucking jobs every time by using Careers in Gear for your truck driving job search.
Source: Covenant Transport – Newsroom