Knight-Swift acquires AAA Cooper for $1.35B enterprise value; funds with $1.2B term loan

Knight-Swift Transportation Holdings Inc.

Enterprise value of $1.35B: $1.3B cash, $10M in KNX shares, and ~$40M assumed debt net of cash.
Acquisition of 100% of AAA Cooper (less-than-truckload carrier) closed July 5, 2021; expected immediately accretive to adjusted EPS.
Entered $1.2B unsecured term loan (2021 Term Loan) due Oct 2022, fully funded; interest rate BSBY + 1.000%.
Reid Dove, AAA Cooper CEO, appointed to Knight-Swift Board as Class II director, term expiring at 2022 annual meeting.
AAA Cooper will operate independently under its brand, headquartered in Dothan, Alabama.

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Executive movements

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Appointed

Reid B. Dove

Director

KNX · Knight-Swift Transportation Holdings Inc.

Effective: 2021-07-05
Filed: July 6, 2021, 7:59 PM ET

On July 5, 2021, in connection with the Acquisition, Reid B. Dove was appointed to Knight-Swift’s Board of Directors (the "Board") as a Class II director with a term expiring at Knight-Swift’s 2022 Annual Meeting of Stockholders.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Reid B. Dove was appointed as Director at Knight-Swift Transportation Holdings Inc..

Action: appointed
Role: Director

Exact text from the filing

On July 5, 2021, in connection with the Acquisition, Reid B. Dove was appointed to Knight-Swift’s Board of Directors (the "Board") as a Class II director with a term expiring at Knight-Swift’s 2022 Annual Meeting of Stockholders.

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Knight-Swift Transportation Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001492691-21-000050

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