One of Arkansas’ largest private companies was quietly sold earlier this year, but Whispers hasn’t been able to scare up many details.
The Pat Salmon & Sons group of companies, also known as Salmon Cos. of North Little Rock, was purchased effective July 1 by 10 Roads LLC, according to Jeff Boone, who remains as vice president of operations.
10 Roads “has similar shareholders as Hoovestol Inc. and Eagle Express Lines,” according to Boone’s written statement. Hoovestol and Eagle Express are headquartered in suburban Chicago and, like Salmon, are primarily U.S. Postal Service transportation contractors.
Salmon Cos. — including Pat Salmon & Sons Inc. and Mail Contractors of America Inc., both of Little Rock, and Pat Salmon & Sons of Florida Inc. of Jacksonville, Florida — had combined revenue from the USPS of $335.3 million in the federal fiscal year that ended in September 2018, according to Husch Blackwell LLP of Washington, D.C., which tracks mail contractors.
Salmon, founded in 1946, ranked No. 35 on Arkansas Business’ most recent list of the state’s largest private companies.
Husch Blackwell considers Hoovestol and Eagle Express to be a consolidated carrier, and its postal service revenue in fiscal 2018 was $480.8 million. But Boone, who has worked for Salmon for 34 years, said Hoovestol and Eagle Express “are not combined operations” and Salmon’s operations “will not be merged with Hoovestol or Eagle.”