Truckload carrier Smithway Motor Xpress Corp. has announced it hassigned a definitive agreement to acquire certain trucking assets of Skipper Transportation Inc., a flatbed carrier headquartered in Birmingham, Ala.
Skipper Transportation operates approximately 39 leased company tractors, 85 tractors supplied by owner-operators, and a fleet of more than 166 trailers.
Under the agreement, Iowa-based Smithway would lease the 39 tractors and purchase 166 flatbed trailers. Smithway also agreed to acquire inventory, including tarps, chains, binders, safety equipment and other miscellaneous assets.
"We expect Skipper's operation in Birmingham to solidify Smithway's presence in the southeastern U.S. and add needed freight in that region,” said Smithway chairman, president and CEO William G. Smith.
Detailed terms of the transaction were not disclosed, and the companies expect the deal to close this month.