U.S. Xpress Completes Arnold, Total Acquisitions

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.S. Xpress Enterprises said late Tuesday it completed the acquisition of Arnold Transportation Services and Total Transportation of Mississippi.

The truckload carrier increased its ownership interest in each company to 80% from 49%, for about $7.9 million in cash, U.S. Xpress said in a statement.

Starting Wednesday, both the combined net income and existing debt of Arnold and Total will be consolidated into U.S. Xpress' income statement and balance sheet, the company said.

Last year, Arnold and Total contributed $2.8 million of equity in earnings for U.S. Xpress, with combined revenue of $317million and combined net income of about $5.7 million

.S. Xpress had originally announced the deal on Feb. 13. (Click here for previous coverage.)

U.S. Xpress is ranked No. 22 and Arnold was No. 94 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.