Oklahoma-based Diamond T Holdings, the parent company of truckload carrier Western Flyer Xpress, announced late Thursday the expansion of its freight network through an asset deal for the equipment and real estate of Indiana Western Xpress Inc.
Rumors had been circulating since late November that Western Flyer Xpress (WFX), headquartered in Oklahoma City, and newly created subsidiary IWX Motor Freight, which boasts 250 power units and 325 reefer trailers, would be “joining forces” after an email was sent to IWX employees and drivers. They also reported that Randy Timms, CEO of WFX, toured the headquarters of the Springfield, Missouri-based truckload carrier around the same time as the email was distributed to IWX and WFX employees and drivers.
WFX, which operates 1,150 power units and 3,000 dry van and reefer trailers, was founded by Rodney Timms and his son, Randy, in 1996. They started out with two trucks and four refrigerated trailers. Randy Timms assumed the role of CEO of WFX after his father retired as president in January 2021.
However, Randy Timms would not confirm the acquisition of the truckload carrier’s assets to FreightWaves until Thursday.
“[Since IWX’s founding in Springfield in 1998, it has] focused on providing best-in-class service in the temperature-controlled segment of the TL industry,” according to a news release. “Its operating platform has allowed it to develop and maintain many long-standing relationships with leading produce, pharmaceutical, petrochemical and protein shippers.”
The acquisition of IWX’s assets also was appealing because of its high percentage of team drivers, which allowed IWX to provide a premium level of service, while maximizing trailer utilization.
Newly acquired IWX Motor Freight (IWXMF) sports terminals in Springfield, Edinburgh, Indiana, and Kingman, Arizona, as well as secure drop-yard Texas locations in Fort Worth and Laredo.
“DTH will maximize the former IWX network, putting the new entity on an aggressive growth plan, including fleet expansion through additional asset acquisition, as well as placing a concentrated focus on exceptional service to its customer base,” WFX said.
According to the email obtained by FreightWaves that was sent prior to the acquisition, Randy Timms said IWX and WFX will “synergize the existing terminals and drop-yard locations.”
In the email, Timms added that IWX employees, including office, shop, drivers and management, would remain in place following the acquisition.
Timms declined FreightWaves’ request for an interview.
WFX will continue to operate separately from the Springfield-based truckload carrier and “looks forward to supporting the success of its affiliate, IWXMF.”
Second equipment acquisition in 2 months
In November, RWTL Capacity Solutions bought the equipment, including 20 tractors and 50 refrigerated trailers, from Wickersham Brothers Inc., which owned Mid Continent Trucking of Denison, Iowa.
WFX and RWTL Capacity Solutions have a common owner. Both companies are headquartered in Oklahoma City. At the time, Timms confirmed RWTL, which offers a lease-to-own program for truck drivers, had purchased the equipment after the family-owned refrigerated carrier decided to shut its doors after 24 years.
“Yes, a leasing company with common ownership to Western Flyer Xpress purchased the trucks and trailers because we heard the equipment was possibly going to auction, but we had no interest in their customers or terminals,” Timms told FreightWaves in November.
This is a developing story.
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