You might also like
Heartland Express, Inc. (HTLD) is a leading short-to-medium haul truckload carrier operating primarily within the United States, with a small portion of its business in Canada and Mexico. The company specializes in asset-based dry van truckload services, offering reliable and efficient freight transportation for major shippers. With a focus on regional freight density, HTLD provides services that prioritize customer satisfaction, safety, and on-time delivery.
-
Truckload Services - Provides nationwide asset-based dry van truckload transportation for short-to-medium haul shipments, with an average length of haul ranging from 400 to 600 miles.
- Cross-Border Freight - Offers freight transportation between the U.S. and Mexico, utilizing third-party providers for operations within Mexico.
-
Temperature-Controlled Services - Offers limited temperature-controlled truckload transportation for specialized freight needs.
-
Logistics Services - Provides logistics and freight coordination services, including operations across Mexico, though these are not significant to overall operations.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
David P. Millis ExecutiveBoard | Director and President of Millis Transfer, LLC | None | President of Millis Transfer since 1992, joined HTLD as a director in 2020 after acquisition. Has over 48 years of experience in the industry. | |
Michael J. Gerdin ExecutiveBoard | Chairman of the Board, Chief Executive Officer, and President | Iowa State University College of Business Dean's Advisory Council | Michael J. Gerdin has been with HTLD since 1983, serving as CEO since 2011. He has over 40 years of industry experience and has significantly contributed to the company's growth. | View Report → |
Christopher A. Strain Executive | Vice President of Finance, Treasurer, and Chief Financial Officer (CFO) | None | Joined HTLD in 2007, initially in accounting and finance. Became CFO in 2017. Previously worked at Deloitte & Touche, LLP. | |
Kent D. Rigdon Executive | Chief Operating Officer (COO) | None | Joined HTLD in 2002, previously VP of Sales. Became COO in 2022. Has 34 years of industry experience. | |
Benjamin J. Allen Board | Director | None | Director since 1995, has extensive experience in transportation economics and management. Former Interim President of Iowa State University. | |
Brenda M. Lantz Board | Director | Associate Director of UGPTI, Program Director for CVSC at North Dakota State University | Elected to the Board in 2023, expertise in commercial vehicle safety. | |
Brenda S. Neville Board | Director | President and CEO of Iowa Motor Truck Association, Board Member of TAEC | Director since 2017, extensive experience in trucking industry advocacy. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Contract Freighters, Inc. (CFI) | 2022 | Deal Structure & Value: Heartland acquired 100% of the equity in Transportation Resources, Inc. (parent of CFI), at an enterprise value of $525 million (cash-free, debt-free basis) and financed the deal with term loans of $450 million, a $100 million revolving credit facility, and cash. Strategic Rationale & Assets: The acquisition positioned Heartland as the 8th largest truckload fleet and 3rd largest irregular route carrier, adding approximately 2,100 tractors, 8,000 trailers, and cross-border capabilities by integrating key facilities and operations. |
Smith Transport | 2022 | Deal Structure & Value: Acquired for a total purchase price of $169.4 million, including cash consideration and assumed debt, with net cash paid of $122.0 million after adjusting for Smith Transport’s cash, and funded entirely with Heartland's available cash. Strategic Rationale & Assets: The deal, which maintains Smith Transport’s independent brand and leadership, aims to leverage its asset-based operations—comprising about 850 tractors and 2,000 dry van trailers—to enhance regional presence and drive operational synergies while benefiting from its blue-chip customer base and experienced drivers. |
No recent press releases or 8-K filings found for HTLD.