FORT SMITH, Ark. — ABF LogisticsSM, an ArcBest company (Nasdaq: ARCB), today announced it has acquired Smart Lines Transportation Group, LLC, a privately held truckload brokerage firm based in Oklahoma City, Okla., effective January 2, 2015, for $5.17 million in cash.
Smart Lines, founded in 2003, has 24 employees and approximately $18 million in annual revenue, primarily serving the food, energy and industrial segments. The acquisition will expand ABF Logistics into the Oklahoma City market.
“The purchase of Smart Lines Transportation Group is an important step in our strategy to grow the emerging businesses at ArcBest and provide a variety of supply chain services to our customers in the way they expect,” said ABF Logistics President Jim Ingram. “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 area. We have plans to aggressively expand this branch and are excited about the growth prospects ahead.”