January 05, 2015: ABF Logistics, an ArcBest company (Nasdaq: ARCB), today announced it has acquired Smart Lines Transportation Group, LLC, a privately-held truckload brokerage firm based in Oklahoma City, Okla., effective January 2, 2015, for $5.17 million in cash.
Smart Lines, founded in 2003, has 24 employees and approximately $18 million in annual revenue, primarily serving the food, energy and industrial segments. The acquisition will expand ABF Logistics into the Oklahoma City market.
"The purchase of Smart Lines Transportation Group is an important step in our strategy to grow the emerging businesses at ArcBest and provide a variety of supply chain services to our customers in the way they expect," said ABF Logistics President Jim Ingram. "We believe the talent pool in Oklahoma City is vibrant and thriving, making it an ideal location for ABF Logistics' first branch outside the Fort Smith area. We have plans to aggressively expand this branch and are excited about the growth prospects ahead."
Greg Roush, who founded Smart Lines and served as president, has been named branch director of the Oklahoma City location, now officially known as ABF Logistics. He has 30 years of experience in the trucking industry, primarily in the truckload segment.
"Smart Lines is a natural fit for ABF Logistics as we both promote a strong customer centric focus," Roush said. "Our current and future customers are gaining greater access to more resources through ABF Logistics and its sister companies ABF Freight and Panther Premium Logistics. We're excited to become part of the broader ArcBest team, with its reputation for going above and beyond to solve complex transportation needs."
ABF Logistics is a sister company to ABF FreightSM and provides third-party logistics services including brokerage, intermodal, and ocean transport, transportation management, warehousing and household moving. We have the skill and the will to build and deliver seamless, customized supply chain solutions powered by advanced technology with access through a single point of contact.