In the trucking industry, one of the most popular ways to beat economic ups and downs is by joining forces with other carriers. We have seen this happen dozens of times in 2017 alone, including the big deal merger leading to Knight-Swift. Today we have another announcement of an acquisition. This time, Estenson Logistics, out of Mesa, Arizona, is teaming up with Hub Group of Oak Brook, Illinois.
All About the Acquisition
Hub Group recently paid $306 million to acquire the trucking company, Estenson Logistics. This is to acquire the dedicated trucking jobs provided by Estenson. The new title for Estenson Logistics will be Hub Group Dedicated Services. Tim Estenson, founder of Estenson Logistics, will become the leader of Hub Group Dedicated Services. The acquisition is already in the financial works. However, former Estenson truck drivers won’t transition over to Hub Group Dedicated until October 1, 2017.
Regarding the acquisition, Hub Group CEO, David Yeager, said, “We are extremely pleased to welcome Estenson’s drivers, employees, and customers into the Hub Group family. We have been searching for an acquisition in the dedicated space for some time and have found an organization with a great fit in terms of culture, management style and business philosophy.”
Yeager adds why Hub Group chose to acquire Estenson over other competitors: “Estenson has a long history of outstanding customer service and is focused on safety and providing its employees with a solid foundation for growth. We believe that cross-selling opportunities are in excess of $100 million in the next five years. We are looking forward to working with the Estenson team.”
About Estenson Logistics
Estenson Logistics of Arizona was established in 1999 by Tim Estenson and Paul Truman. The mission for the company was to become a top-rated dedicated trucking company. Class A truck drivers for Estenson Logistics are dedicated contract truckers and company drivers. The company primarily hauled flatbed freight, temperature-controlled freight, tanker loads, and dry van freight. Estenson previously hired drivers from Washington and California. However, with the acquisition of Hub Group, this service area is bound to expand.
Some of the trucking benefits offered by Estenson Logistics included:
- Home time every day
- New equipment for drivers
- Health insurance, including dental and vision
- Safety bonus pay
- Option to pick up additional work days in most areas
- Paid vacation
- 401(k) retirement plan
- Pay per week
Will these benefits still apply to Hub Group Dedicated Services drivers, formerly of Estenson Logistics? A look at company driver benefits for Hub Group truck drivers indicates all signs point at “yes.” In fact, Hub Group drivers receive even more benefits.
Drive for Hub Group
Trucking benefits at Hub Group include, on top of Estenson Logistics benefits:
- Paid holidays in addition to vacation pay
- Flexible spending account benefits
- Rider policy
- Comdata daily advances
- Online pay statements
Truck drivers interested in joining the newly formed Hub Group Dedicated Services fleet may also be eligible for a sign-on bonus of up to $7,500 for experienced drivers. Also, Hub Group hires owner operators, in addition to company drivers.
How do you get started at Hub Group Dedicated? Start by being at least 23 years old and having a Class A CDL. You will also need to have either one year of driving experience in the last two years or two years of experience in the last five. You’ll have to pass a physical by an authorized physician by Hub Group, which is different from your DOT physical exam.
Also, you’ll be required to pass a drug test by the company prior to getting hired as a truck driver for Hub Group Dedicated Services. Finally, while Estenson Logistics primarily served the Pacific Northwest, Hub Group has locations for trucking jobs all over the country from Atlanta to Pittsburgh to Arizona.