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Smithway Motor Xpress Corp is taken private in October 2007. Scudder Law Firm negotiated the transaction and the related $115 million in financing for Western.
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New Mountain Lake Acquisition Company successfully completed a cash tender offer to take private U.S. Xpress Enterprises, Inc. at $20.10 per share in an approximately $350 million enterprise value transaction. New Mountain Lake was controlled by the founders of U.S. Xpress. Scudder Law Firm represented New Mountain Lake in the tender offer and related financing and also represents U.S. Xpress in its merger and acquisition and financing matters.
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U.S. Xpress Enterprises, Inc. closed a 49% equity investment in Arnold Transportation Services, an approximately $200 million revenue company, and placed over $85 million of equity and debt financing to fund the acquisition. Scudder Law Firm represented U.S. Xpress in structuring and negotiating the transaction and financing. Scudder Law Firm also handled U.S. Xpress’s acquisition of Total Transportation in April 2005 and advised on the disposition of of its airport-to-airport business to Forward Air in May 2005.
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Corporate freight Management, a premier non-asset based logistics company for promotionally intense products, closed a liquidity transaction for its founder. Scudder Law Firm represented the company and the founder in the private placement of preferred stock and partial redemption of its founder.
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Swift Transportation Co., Inc. acquired $145 million revenue Merit Distribution and certain dedicated fleets serving Wal-Mart grocery distribution centers in July 2003. Scudder Law Firm represented Swift in the negotiation, documentation, and closing of the transaction, which included significant payments tied to future distribution center bids.
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Perfect Commerce, Inc. (f/k/a eScout LLC) acquired Perfect Commerce and took its name in a stock-for-stock merger. The transaction paired two leading venture capital-backed electronic procurement companies. Scudder Law Firm represented the acquirer.
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Heartland Express, Inc. (Nasdaq: HTLD) acquired $70 million revenue Great Coastal Express in May 2002. Scudder Law Firm represented Heartland in the acquisition, including preparing a valuation based on comparable transactions. Scudder Law Firm also handled Heartland's acquisitions of A&M Express in 1997, and Munson Transportation in 1994.
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Central Refrigerated Service, Inc. acquired the assets of $200 million revenue Simon Transportation in a Chapter 11 sale. Scudder Law Firm represented Central Refrigerated Service, as stalking horse bidder, in negotiating with the creditors, drafting the acquisition agreements, and obtaining approval of the purchase. Earl Scudder is a Central Refrigerated director.
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Swift Transportation Co., Inc. closed an $600 million stock-for-stock merger/acquisition of M.S. Carriers, Inc. (Nasdaq: MSCA) on June 29, 2001. Scudder Law Firm represented Swift in the merger and stock registration.
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Covenant Transport, Inc. (Nasdaq: CVTI) acquired $89.6 million revenue Star Transportation, Inc. in September 2006. Scudder Law Firm represented Covenant in negotiating, documenting, and closing the transaction. Scudder Law Firm has represented Covenant in ten other acquisitions since 1995.
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Knight Transportation, Inc. (NYSE: KNX) acquired $30 million revenue Edwards Bros. Inc. in August 2005 and $25 million Roads West Transportation Inc. in October 2006. Scudder Law Firm represented Knight in these transactions.
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Central Freight Lines acquired the $225 million revenue Southwest Division of Viking Freight System. Scudder Law Firm represented Central Freight in negotiating the acquisition, arranging financing, capitalizing the acquirer, and preparing management contracts. Scudder Law Firm subsequently represented Central Freight in its acquisitions of four additional trucking companies.
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Jerry Moyes completed the purchase of control of the Phoenix Coyotes and Westgate Development via Coyotes Holdings, LLC in January 2003. Scudder Law Firm served as Jerry Moyes' financial and legal counsel, and negotiated the transaction.
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WOE Acquisition Inc. completed the purchase of assets of WareOnEarth Communications, Inc. out of bankruptcy in April 2003. Scudder Law Firm served as WOE's acquisition counsel. Earl Scudder is a WareOnEarth director.
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SME Steel Contractors, Inc acquired the assets of Lee Fabricating, Inc. out of bankruptcy in May 2002. Scudder Law Firm served as SME Steel's acquisition counsel.
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Paragon Leasing completed the sale of its assets to Transport International Pool, Inc., a division of General Electric. Scudder Law Firm served as Paragon's merger and acquisition counsel.
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Linweld, Inc., the Midwest's leading manufacturer and distributor of medical, specialty, and industrial gases and welding supplies, was acquired by Matheson Tri-Gas, Inc. in August 2006. Scudder Law Firm represented Linweld's founder and other stockholders in marketing the company for sale and in negotiating and closing the transaction.
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Panther II Transportation, Inc., one of the fastest growing expedited companies in North America, acquired a portion of the assets of Con-way Expedite & Brokerage Inc. in July 2006. The acquired assets included the expedite business of Con-Way. Scudder Law Firm represented Panther in negotiating and drafting the acquisition agreement.
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The Harker family purchased the private equity portion of Harker’s Distribution, Inc. from a Bank of America subsidiary in April 2006. Scudder Law Firm represented the Harker family in the purchase and the additional equity investment in the company, and will serve as outside corporate counsel for the company going forward.
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Concentrek Inc. was sold to Uti Worldwide, Inc (Nasdaq: UTIW) by Knight Transportation (NYSE: KNX) and private investors in September 2005. Scudder Law Firm represented Concentrek and its owners in the transaction.
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Knight Transportation, Inc. (NYSE: KNX) acquired $30 million revenue Edwards Bros. Inc. in August 2005. Scudder Law Firm represented Knight in the transaction.
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