Trucking mergers and acquisitions tracker: deals from primary sources
By Edwin Horton · Updated
Trucking companies buy and sell each other all the time, but most coverage mixes confirmed deals with rumors. This tracker lists only deals a company confirmed in a press release or an SEC filing, each with its date, buyer, target, segment, the value if disclosed, and a link to the primary source.
Updated October 2026. We add deals monthly. Coverage starts in December 2024. It focuses on carriers and trucking-heavy logistics companies operating in the US; small private sales that are never announced aren't included.
What the tracker shows so far
- 9 deals confirmed by primary sources from December 2024 to October 2026.
- Largest: C.H. Robinson's agreement to acquire RXO, announced October 5, 2026, at an implied value of about $5.8 billion C.H. Robinson agrees to acquire RXOAnnounced October 5, 2026; implied value about $5.8 billion; expected to close first half of 2027Stock-and-cash transaction: RXO shareholders to receive $17.25 in cash and 0.0856 C.H. Robinson shares per RXO share. Subject to regulatory and shareholder approval. A brokerage combination rather than an asset carrier deal.RXO Form 425 (SEC), Oct 2026, 2026Checked Oct 2026.
- Most active carrier segment: dedicated. Schneider bought Cowan Systems and Werner bought FirstFleet, both dedicated carriers.
- Values are often secret. Only 4 of the 9 deals disclosed a price.
The deal table
| Date | Buyer | Target | Segment | Value | Status and source |
|---|---|---|---|---|---|
| Oct 5, 2026 | C.H. Robinson | RXO | Brokerage | About $5.8 billion implied | Announced; expected to close first half 2027 C.H. Robinson agrees to acquire RXOAnnounced October 5, 2026; implied value about $5.8 billion; expected to close first half of 2027Stock-and-cash transaction: RXO shareholders to receive $17.25 in cash and 0.0856 C.H. Robinson shares per RXO share. Subject to regulatory and shareholder approval. A brokerage combination rather than an asset carrier deal.RXO Form 425 (SEC), Oct 2026, 2026Checked Oct 2026 |
| Aug 4, 2026 | Trimac Transportation | California Freight | Bulk food-grade tank | Not disclosed | Completed Trimac acquires California FreightAnnounced August 4, 2026; terms not disclosedTrimac Transportation acquired California Freight, a Ripon, California food-grade bulk logistics company, which continues to operate under its own name.Trimac release, Aug 4, 2026, 2026Checked Oct 2026 |
| Mar 25, 2026 | Echo Global Logistics | ITS Logistics | Brokerage and logistics | Not disclosed | Completed Echo Global Logistics acquires ITS LogisticsCompleted, announced March 25, 2026; terms not disclosedEcho Global Logistics completed its acquisition of ITS Logistics, a Reno, Nevada third-party logistics provider; the release cited about $5.2 billion in combined 2025 revenue.Echo / ITS Logistics release (PR Newswire), Mar 25, 2026, 2026Checked Oct 2026 |
| Jan 27, 2026 | Werner Enterprises | FirstFleet | Dedicated truckload | $245 million equity; about $282.8 million with properties | Closed Werner Enterprises acquires FirstFleetClosed January 27, 2026; $245 million for the equity, about $282.8 million including propertiesWerner acquired 100% of First Enterprises, Inc. (FirstFleet), a dedicated carrier based in Murfreesboro, Tennessee, reported on Form 8-K; the announcement put the total at about $282.8 million including 11 properties bought separately.Werner Enterprises Form 8-K, Jan 2026, 2026Checked Oct 2026 |
| Jan 9, 2026 | UTAC LLC (USA Truck executives) | USA Truck, from DSV | Truckload | Not disclosed | Announced DSV sells USA Truck to UTAC, LLCAnnounced January 9, 2026; terms not disclosedDSV agreed to sell 100% of USA Truck, Inc. and its subsidiaries to UTAC, LLC, owned by USA Truck's CEO and former executives, keeping the Van Buren, Arkansas headquarters.DSV press release, Jan 9, 2026, 2026Checked Oct 2026 |
| Dec 8, 2025 | Enterprise Mobility | Hogan | Truck leasing and dedicated | Not disclosed | Completed Enterprise Mobility acquires HoganCompleted, announced December 8, 2025; terms not disclosedEnterprise Mobility completed its acquisition of Hogan, a St. Louis truck leasing and dedicated transportation company.Hogan release, Dec 8, 2025, 2025Checked Oct 2026 |
| Sep 30, 2025 | Hub Group | Marten Transport's intermodal business | Refrigerated intermodal | $51.8 million cash | Closed Hub Group buys Marten Transport's intermodal businessClosed September 30, 2025; $51.8 million in cashAsset sale of Marten's intermodal equipment, including more than 1,200 refrigerated containers, and related contracts to Hub Group, effective September 30, 2025.Marten Transport release, Sep 30, 2025, 2025Checked Oct 2026 |
| Jan 6, 2025 | PITT OHIO Transportation Group | Sutton Transport | LTL | Not disclosed | Effective Jan 1, 2025 PITT OHIO Transportation Group acquires Sutton TransportAnnounced January 6, 2025, effective January 1, 2025; terms not disclosedThe PITT OHIO Transportation Group agreed to purchase Midwest LTL carrier Sutton Transport, to operate alongside and later integrate with Dohrn Transfer.PITT OHIO Transportation Group release (Dohrn), Jan 6, 2025, 2025Checked Oct 2026 |
| Dec 2, 2024 | Schneider National | Cowan Systems | Dedicated truckload | About $390 million cash | Closed Schneider acquires Cowan SystemsClosed December 2, 2024; about $390 million in cashSchneider National completed its acquisition of Cowan Systems, LLC and affiliated entities, a dedicated contract carrier based in Baltimore, for approximately $390 million in cash, subject to adjustments, reported on Form 8-K.Schneider National Form 8-K, Dec 2024, 2024Checked Oct 2026 |
Trucking M&A deals
CSV with dates, segments, values and source links
Same rows as the table; refreshed with each monthly update.
Deals by month
- DEC 2024
Schneider and Cowan
Dedicated
A Baltimore dedicated carrier joins Schneider for about $390 million.
- JAN 2025
PITT OHIO and Sutton
LTL
A Midwest LTL carrier joins a regional LTL group to add density.
- SEP 2025
Hub Group and Marten Intermodal
Intermodal
Refrigerated containers and contracts change hands for $51.8 million.
- DEC 2025
Enterprise and Hogan
Leasing and dedicated
A rental giant moves into heavy-duty trucks.
- JAN 2026
Werner and FirstFleet; USA Truck sold
Dedicated, truckload
Two truckload deals in one month.
- MAR TO OCT 2026
Echo and ITS; Trimac and California Freight; C.H. Robinson and RXO
Brokerage, tank
Brokerage platforms combine; a bulk carrier expands in California.
Deals by segment
- Dedicated truckload2 deals
- Brokerage and logistics2 deals
- Truckload1 deals
- LTL1 deals
- Intermodal1 deals
- Leasing and dedicated1 deals
- Bulk tank1 deals
What the deals have in common
Dedicated freight is in demand. Two of the largest carrier deals bought dedicated carriers: fleets that run assigned trucks for specific shippers under contract. Buyers pay for that contracted, repeat freight because it steadies revenue when spot rates fall.
Density drives LTL and regional deals. The PITT OHIO release described the Sutton deal as a way to increase shipment density in its existing footprint. More freight in the same area means fuller trucks and shorter routes.
Brokerage is consolidating. Echo and ITS combined, and C.H. Robinson agreed to buy RXO. When large brokerages merge, their carrier networks and procedures change, and carriers who haul for both should expect new setup paperwork and possibly new payment terms.
Owners sell in soft markets. Long stretches of low rates leave some carriers with thin cash and some owners ready to retire. That creates sellers, and buyers with capital use the moment to add trucks and customers.
What consolidation means for a small fleet
Shippers want options. When two large carriers combine, shippers that used both often look for other carriers to avoid depending on one. A reliable small fleet on the right lanes can pick up that freight.
Drivers move. Integrations change pay, routes and managers, and some drivers leave. If you're hiring, the months after a nearby deal can be a good time to recruit.
Broker relationships shift. After brokerage mergers, carrier setup, rate confirmation and payment practices can change. Keep your carrier packet current and watch days-to-pay.
Your numbers matter more. Large combined carriers lower their costs through density. A small fleet competes by knowing its own cost per truck: use the small fleet cost per truck calculator before you price freight against them.
EXAMPLE After a large dedicated carrier is acquired in its region, a five-truck reefer fleet notices two shippers posting more loads to brokers on its lanes. The owner sends capacity emails to the brokers covering those shippers. Over the next quarter, one shipper's broker books the fleet every week.
If a broker or customer you haul for is acquired
- Ask what changes and when. Carrier setup, rate confirmations, load tendering systems and payment terms often change after a closing, usually in stages.
- Update your carrier packet with the new company if they ask, and confirm where to send invoices and PODs.
- Watch days-to-pay. Payment processes can slow during an integration. Track every invoice until the new routine settles.
- Keep your contacts. The people who booked your trucks may move to new roles. Ask who covers your lanes now, and introduce yourself.
- Don't depend on one customer through the change. Spread loads across several brokers and shippers until you see how the combined company treats its carriers.
How we build this tracker
- Sources: company press releases, SEC filings (8-K, 425, 10-K), and company news pages. No rumors, no unnamed sources, no deals reported only in trade press.
- Scope: deals involving trucking carriers or trucking-heavy logistics companies operating in the US.
- Values: shown only as disclosed by the companies.
- Status: announced deals are marked until a closing is confirmed.
- Updates: monthly.
Be the carrier brokers call after a deal
For who's biggest after the deals, see the largest trucking companies in the US. Many buyers and sellers belong to industry groups listed in our list of trucking associations. If you're thinking about buying a smaller carrier yourself, read buying a trucking company for the due diligence side. And for growing without an acquisition, see how to grow a trucking company.
Our view: you can't control who merges, but you can be the carrier brokers call when the shuffle leaves a gap.
About the deal tracker
01Why are trucking companies merging?
Common reasons given in the announcements: adding dedicated contract freight, increasing density in an existing network, entering a new region or service, and combining brokerage platforms. Soft freight markets also push some owners to sell.
02What is the biggest trucking acquisition recently?
In this tracker, C.H. Robinson's agreement to acquire RXO, announced October 5, 2026 with an implied value of about $5.8 billion, is the largest. It's a brokerage combination and is expected to close in the first half of 2027, subject to approvals.
03Are trucking companies being bought out?
Yes, regularly. Large carriers buy dedicated and regional carriers, logistics companies combine, and owners of family carriers sell to larger groups. Most small-carrier sales aren't announced publicly, so no tracker covers them all.
04How does trucking consolidation affect small carriers?
When large companies combine, shippers and brokers often look for other carriers to keep options open, and drivers sometimes leave during integration. Both can be openings for small fleets that run reliably.
05How often is this tracker updated?
Monthly. We add deals only when a company press release or SEC filing confirms them, and we update status when a pending deal closes.
06Can I suggest a deal for the tracker?
Yes, through our contact page. Include a link to the company's press release or SEC filing; we don't list deals reported only by rumor or unnamed sources.
07What happens to drivers when a trucking company is acquired?
It depends on the deal. Many buyers keep the acquired company running under its own name at first, with the same drivers and managers, and integrate pay, equipment and routes later. Drivers should ask how pay, home time and seniority will be handled.
08What happens to a carrier's authority when it is sold?
Federal rules count asset purchases, mergers and controlling stock purchases as transfers of operating authority, and both buyer and seller must report the transfer to FMCSA. How a specific deal handles the authority is a question for a transportation attorney.