• ITVI.USA
    15,948.420
    108.680
    0.7%
  • OTLT.USA
    2.798
    -0.001
    0%
  • OTRI.USA
    22.010
    -0.060
    -0.3%
  • OTVI.USA
    15,936.600
    100.010
    0.6%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,948.420
    108.680
    0.7%
  • OTLT.USA
    2.798
    -0.001
    0%
  • OTRI.USA
    22.010
    -0.060
    -0.3%
  • OTVI.USA
    15,936.600
    100.010
    0.6%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
Company earningsFinanceNewsTruckingTruckloadTruckload Carriers

Hornady and BTC complete merger

Two Daseke carriers join forces

Flatbed carrier Hornady Transportation announced that it has merged with another flatbed hauler, Builder’s Transportation Co. (BTC).

Founded in 1925, Monroeville, Alabama-based Hornady provides transportation to the building materials and steel industries out of its terminal located in Birmingham. The company’s coverage footprint includes 48 states and the merger provides the carrier with a second terminal in Memphis, Tennessee, BTC’s headquarters.

Both carriers are affiliates of the nation’s largest flatbed carrier, Daseke Inc. (NASDAQ: DSKE). The Hornady-BTC merger agreement was first announced in August 2019 when Daseke embarked on a full restructuring of its business, which includes the consolidation of some of its stand-alone trucking companies.

“The merger goes beyond numbers. We’re bringing together two innovative organizations who have a shared vision and trust in one another. We look forward to the positive changes to come and value our team members’ support in this transition,” said CEO Chris Hornady.

The merger will allow Hornady to further expand its freight mix in the building materials, steel, and oil and gas industries. The deal doubles the size of Hornady’s operations, which now include a fleet of 406 tractors and 605 flatbed trailers. The increased service offering into new verticals has also allowed Hornady to add employees, notably drivers, in Monroeville.

“Hornady embraces a future of continued stability and growth as they further honor their commitment to quality and reliability,” the press release continued.

Click for more FreightWaves articles by Todd Maiden.

Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.

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