Tag: announcement

Knight-Swift Announces Major Merger with U.S. Xpress

Posted on March 21, 2023 by - Insutry news, merger, Truck Industry News, trucking news

Knight-Swift Transportation has officially announced an agreement to acquire U.S. Xpress Enterprises. This is not the first time the company has merged with another, however. In 2017, Knight Transportation and Swift Transportation merged to create Knight-Swift Transportation Holdings Inc. The difference between this merger is that U.S Xpress will keep its brand and continue to operate separately. 

U.S. Xpress was purchased by Knight-Swift for $6.15 a share, for a total of about $808 million. The acquisition is officially expected to close in the second or third quarter of the year and will pay around $291 million in cash at closing. This will be the biggest deal for Knight-Swift since it acquired AAA Cooper Transportation in 2021. 

In this acquisition, Knight-Swift will assume the acquired company’s debt of $484 million. The debt was caused by a multi-year decline in financial revenue. Ultimately U.S Xpress stockholders were pleased with the high closing stock price after the acquisition was complete.

 While the company will be acquiring U.S. Xpress’ accumulated debt, this acquisition is expected to add roughly $2.2 billion in operating revenue to Knight-Swift. This will also cause their truckload fleet to have a total of 25,00 tractors and 93,000 trailers. 

 This merger is expected to help U.S. Xpress significantly and reduce the turnover rate of employees, which had been happening during the company’s financial decline. This merger is also expected to increase the revenue of both companies to avoid any further financial decline from either company.

Grandes Noticias: ExpressTruckTax une fuerzas con Bestpass

Posted on November 29, 2022 by - announcement, Spanish, Spanish 2290

ExpressTruckTax quisiera agradecerle por confiar en nosotros durante los últimos 12 años para todas sus necesidades del Formulario 2290. Estamos agradecidos con usted y su negocio, por lo que nos gustaría compartir algunas noticias sensacionales con usted. ¡ExpressTruckTax está oficialmente uniendo fuerzas con Bestpass!

Como sabe, ExpressTruckTax es el sistema principal de presentación electrónica HVUT (Impuesto sobre el uso de vehículos pesados) para camioneros, propietarios de flotas y preparadores de impuestos para la presentación electrónica del Formulario 2290.

Bestpass es el líder en soluciones de gestión de peajes para flotas comerciales y ha simplificado la gestión de peajes para propietarios-operadores y administradores de flotas durante más de 20 años, sirviendo a más de 15.000 clientes en EE.UU. y Canadá.

Bestpass está adquiriendo ExpressTruckTax de su empresa matriz SPAN Enterprises. Esta adquisición se suma a los productos líderes en la industria de Bestpass para continuar su expansión más allá de la gestión de peajes para ayudar a brindar más valor a sus más de 15.000 flotas y propietarios-operadores. La combinación de Bestpass y ExpressTruckTax nos ayudará a convertirnos en una ventanilla única para las necesidades administrativas de nuestros clientes y mantenerlos enfocados en el camino a seguir.

Queremos asegurarle que esta transición no afectará su experiencia con ExpressTruckTax. Nuestro equipo está completamente dedicado a su éxito y continuará ofreciendo la misma excelente atención al cliente que espera y merece.

La única diferencia que surgirá de esta adquisición será el beneficio adicional de tener acceso a una nueva oferta de peaje como miembros de la familia Bestpass. Regístrese en Bestpass u obtenga más información sobre la gestión de peajes aquí o llame a Bestpass al 888.410.9696.

Continuaremos brindando actualizaciones para nuestros clientes leales a medida que combinamos fuerzas con Bestpass y esperamos un gran futuro para ExpressTruckTax y Bestpass.

Para obtener más información sobre la unión con Bestpass, haga clic aquí.

Big News: ExpressTruckTax Joins Forces with Bestpass

Posted on November 29, 2022 by - announcement, expresstrucktax, Expresstrucktax.com

ExpressTruckTax would like to thank you for putting your trust in us over the last 12 years for all of your Form 2290 needs. We are grateful to you and your business, so we would like to share some exciting news with you. ExpressTruckTax is officially joining forces with Bestpass!

As you know, ExpressTruckTax is the leading HVUT (Heavy Vehicle Use Tax) e-filing system for truckers, fleet owners, and tax preparers for e-filing Form 2290.

Bestpass is the leader in toll management solutions for commercial fleets and has been simplifying toll management for owner-operators and fleet managers for over 20 years, serving over 15,000 customers across the U.S. and Canada. 

Bestpass is acquiring ExpressTruckTax from its parent company SPAN Enterprises. This acquisition adds to Bestpass’s industry-leading products to continue its expansion beyond toll management to help provide more value to its more than 15,000 fleets and owner-operators. The combination of Bestpass and ExpressTruckTax will help us become a one-stop shop for our customers’ administrative needs and keep them focused on the road ahead.

We want to assure you that this transition will not affect your experience with ExpressTruckTax. Our team is fully dedicated to your success and will continue to offer the same excellent customer support that you expect and deserve. 

The only difference that will come from this acquisition will be the added benefit of having access to a new toll offering as members of the Bestpass family. Sign up for Bestpass or learn more about toll management here or give Bestpass a call at 888.410.9696.

We will continue to provide updates for our loyal customers as we combine forces with Bestpass and are looking forward to a great future for ExpressTruckTax and Bestpass.

To learn more about the merger with Bestpass click here.