In November 2006 Moyes offered to buy Swift for $29 a share. The Moyes family still controlled about 39% of the public stock. Without admitting or denying wrongdoing he paid a $1.26 million settlement. Moyes was soon to retire when he was forced out as chief executive officer (CEO) at Swift in October 2005 after a United States Securities and Exchange Commission (SEC) investigation into insider trading. Carriers obtained a 22% stake in the combined company.
The company's growth continued since 1988 with the purchase of eleven motor carriers throughout the United States, including M.S. Moyes received $180 million in cash for the sale. That sale was announced in summer 2013, and the merger completed on February 1, 2014. Those assets were rolled into Moyes's small Central Freight Lines out of Texas, and later spun off as the separate entity Central Refrigerated Service, which remained wholly owned by Moyes until its subsequent sale to and merger with Swift. In a similar move, in 2001 Moyes purchased the assets of Dick Simon Trucking, which had filed for Chapter 11 bankruptcy. for $9 million out of Chapter 11 bankruptcy. In 1991, with money raised in the IPO, Swift bought Stephens City, Virginia-basedĪrthur H. The company held an initial public offering (IPO) in 1990 and became a publicly traded entity on the NASDAQ market system under the symbol SWFT. īy 1990, Swift Transportation had grown to a $125 million carrier with over 800 trucks. In April 1988 Swift purchased Greenville, South Carolina-based Cooper Motor Lines from Philadelphia, Pennsylvania-based ARA Services. Ronald would continue to hold shares in Swift while Randy would become a co-founder of Knight Transportation. Jerry Moyes became president, chairman, and CEO that same year, and when Carl died in 1985, Jerry bought out the other two partners, his brother Ronald and Randy Knight. The three Moyes family members and a fourth partner, Randy Knight, grew the business to $25 million in annual revenues by 1984. The name Swift Transportation was purchased from a descendant of the Swift Meat Packing family, when the Moyes family bought the trucking assets of Swift & Company. Operations began in 1966 transporting imported steel from the ports of Los Angeles, California to Phoenix, Arizona, and returning with cotton from Arizona to be delivered to Southern California. Carl and his two sons, Ronald and Jerry (vice-president), formed the company Common Market in Arizona, that would become Swift. After their son, Jerry, graduated from Weber State University in 1966, they moved the small company to Phoenix, Arizona. In the late 1950s Betty and Carl Moyes started a small trucking company in Plain City, Utah, B & C Truck Leasing. England in the 1940s out of northern Utah.
#Swift transportation dispatch number driver#
History Ĭarl Moyes was a truck driver hauling produce for C.R. In 2017, Swift merged with Knight Transportation, also of Phoenix, effective September 8, 2017. With over 23,000 trucks, it is the largest common carrier in the United States. Swift Transportation is a Phoenix, Arizona-based American truckload motor shipping carrier, part of Knight-Swift.
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