For-Hire

A private equity vehicle led by Roadrunner Freight CEO Chris Jamroz bought a majority ownership stake in the less-than-truckload carrier from Elliott Investment Management.

Schneider is acquiring Baltimore-based Cowan Systems in a $390 million deal that will expand the carrier’s dedicated trucking services. The transaction is set to close by the end of 2024.

UPS has reached a $45 million settlement with the Securities and Exchange Commission over claims made by the agency that the carrier improperly valued its freight business in financial results reporting.

With another year of hacker break-ins looming before us, now is a great time to evaluate cybersecurity for your trucking business to ensure that you’re using the latest technology to keep cybercriminals at bay.

The acquisition brings 50 to 60 trucks and three service centers into Moran’s operations, increasing its total to 12 service centers and more than 675 pieces of equipment across the Midwest.

Joe Beacom will become president of Landstar System Holdings. Matt Miller will succeed Beacom as vice president and chief safety and operations officer.

American Securities-backed LaserShip Inc. reached a debt-restructuring deal with some creditors that would provide fresh money, reduce debt and revamp the repayment line in the latest such proposal by distressed debtors.

J.B. Hunt Transport Services recently announced a series of executive appointments.

Kuehne + Nagel, a Switzerland-based global transportation and logistics company, acquired a majority stake in marine drayage provider IMC Logistics, it announced Nov. 14.

Two of the largest for-hire carriers are making operational and financial preparations for an anticipated upturn in the freight market after months of weak demand, executives said.