ABF Logistics acquires Bear Transportation for $26m
December 3, 2015
ABF Logistics, an ArcBest company, has acquired Bear Transportation Services, a private, non-asset truckload brokerage firm headquartered in Texas for $26m cash. This will give Arkansas-based ABF access to Bear’s proprietary transportation management system.
Bear Transportation Services has more than 140 employees located in Plano, Texas, and Fayetteville, Arkansas. The company, founded in 1982, has approximately $120m in annual revenue, serving a variety of industry segments. Its transport management system allows the real-time exchange of data on the intake of tendered freight from customers and allows the tracking and tracing of assets.
"This company is an excellent fit for ABF Logistics, as we believe the purchase will drive growth and profitability by combining our vision, brand and customer relationships with Bear's deep pool of experienced sales and operations team members," said ABF Logistics president Jim Ingram. "We have admired the Bear organisation for years and have been impressed with the skillsets and innovative IT concepts we have seen in action."
ABF Logistics has experienced rapid growth since it was formed in 2013. This acquisition is the second of the year for the company after its purchase of Oklahoma City-based Smart Lines Transportation Group in January 2015.
"We are pleased to find a strategic buyer with a strong culture and a clear growth plan," said Mike Loehr, a principal owner of Bear Transportation. "Our employees and our customers will benefit from the resources and solutions ABF Logistics and the broader ArcBest organisation will provide."
ABF Logistics helps customers solve supply chain problems through a variety of third-party services. ArcBest has previously stated its strategy to grow its logistics businesses both organically and through acquisitions that add scale to existing services.
ABF’s services include brokerage, intermodal and ocean transport, transportation management, warehousing and household moving.