Knight-Swift Transportation Holdings Inc. announced the completion of the merger of Knight Transportation, Inc. and Swift Transportation Company. The new company will maintain the distinct Knight and Swift brands and operations while implementing best practices across the enterprise.
Executive Chairman, Kevin P. Knight, commented on the merger as follows: "We are pleased to welcome all stakeholders to Knight-Swift. The timing of the transaction could not be more favorable for addressing the supply chain, regulatory, and demographic challenges facing our industry, and we are excited to bring to market the capabilities of these two great companies."
The company's post-merger strategy emphasizes stability and opportunity for customers, driving associates, and non-driving associates. Customers will continue to receive service under their existing Swift or Knight customer relationships. Driving associates and independent contractors will continue to operate their existing Swift or Knight branded equipment, with their existing locations, fleet managers, and other contacts.
Knight-Swift is now the largest provider of truckload services in North America, with an asset-based fleet of approximately 23,000 tractors and 77,000 trailers, and access to substantial additional capacity through our brokerage and intermodal capabilities.
As one of the industry’s largest sources of education and training for new truck drivers, the company will also help add an estimated 15,000 to 20,000 new drivers to the industry in the next year. With over 70 terminals between Knight and Swift, we also offer a broad platform of opportunity.
Customers will continue to receive the benefits of local or regional trucking capacity available from each terminal network, with accountable customer service, operations, and other personnel in more places than ever, with more equipment than ever.
“We are excited for the opportunities ahead for both companies. The Knight and Swift teams are learning from each other to jointly build the most efficient and reliable truckload company in the industry. The cost savings opportunities are at least as great as expected. The synergy teams are energized to move from planning to implementation. We appreciate the efforts of all of our team members to get us to this point and look forward to a bright future," Knight added.