Knight Transportation Acquires Barr-Nunn
Knight Transportation today announced the company has acquired Barr-Nunn Transport.
Barr-Nunn is a 550-truck dry-van carrier based near Des Monies, Iowa.
According to a statement from Knight Transportation Executive Vice President of Sales and Marketing Jim Updike, “Barr-Nunn will continue to operate as a separate company under its existing operating authority with its customer contracts and agreements remaining in effect.”
Street Insider reports, “Knight expects the current management team to remain in place and continue to operate the business under the Barr-Nunn name and with the Barr-Nunn personnel, policies, and culture. Driving associates, non-driving associates, and customers should notice little change following the transaction.”
Jane Sturgeon, Chief Executive Officer of Barr-Nunn Transportation, said of the acquisition, ”When Bob and I first discussed selling, we made it clear that the future of our people and the cultural fit would determine whether we would entertain any discussions. Although they did not know it at the time, Knight was our number one choice for a buyer because their pursuit of excellence, their commitment to a career path for employees, and their support of regional management teams strongly aligned with our goals. Once Knight was identified, we quickly and fairly negotiated all important points in the transaction. Importantly, Knight and we were up front and consistent about our points of view and, once we shook hands, neither of us wavered. We are confident that we found the right owner for the next generation of growth and success at Barr-Nunn.”
Sources:
Knight Transportation
Street Insider