ABF Logistics, a subsidiary of ArcBest Corp. of Fort Smith, bought Smart Lines Transportation Group LLC of Oklahoma City for $5.17 million on Jan. 2.
ABF officials announced the acquisition of the truckload brokerage company Monday. Smart Lines has approximately $18 million in annual revenue, ABF said in a news release.
“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 in a statement. “We have plans to aggressively expand this branch and are excited about the growth prospects ahead.”
Smart Lines President Greg Roush, who founded the company in 2003, will serve as branch director in Oklahoma City
ArcBest reported ABF Logistics had third-quarter revenue of $40.6 million, an increase of 42 percent from the same quarter of 2013. It is one of several ArcBest non-asset businesses that generated $198.9 million in revenue in the third quarter of 2014.
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