ABF Logistics, a sister company to LTL carrier ABF freight, said it has acquired privately held TL brokerage firm Smart Lines Transportation Group, LLC, based in Oklahoma City, OK, for $5.17 million in cash.
Founded in 2003, Smart Lines employs 24, generates approximately $18 million in annual revenue, and primarily serves the food, energy and industrial segments. ABF Logistics noted this acquisition will help the company expand into the Oklahoma City market.
"The purchase of Smart Lines Transportation Group is an important step in our strategy to … 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 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 AR area,” he added. “We have plans to aggressively expand this branch and are excited about the growth prospects ahead."
Greg Roush – a 30-year TL industry veteran who founded Smart Lines and served as its president – will now serve as branch director for the now-rechristened ABF Logistics Oklahoma City location.