Heartland Express purchases Millis Transfer

773118

{"text":"\"Heartland Express announced Monday it acquired Millis Transfer and related entities for about $150 million.\n\nMillis, based in Black River Falls, Wisconsin, is a dry van truckload carrier. Heartland said in a press release the Millis management team will remain with the company in their current roles.\n\nMichael Gerdin, chairman, president and CEO of Heartland, said his company will fund the purchase price and pay off the assumed debt with existing cash. He added the North Liberty, Iowa-based company expects to end 2019, after the transaction, with about $50-60 million in cash, no debt and about $90 million available through a revolving line of credit.\n\nRead more: https://www.truckersnews.com/heartland-express-purchases-millis-transfer/\"","videos":"[]","link":"{}","pics":"[]","canComment":true}