Knight Transportation Buys Barr-Nunn Transportation; Plans To Update Guidance

(RTTNews) - Knight Transportation, Inc. (KNX) announced it has acquired 100% of the outstanding stock of Barr-Nunn Transportation, Inc. and certain affiliates. The enterprise value at closing was approximately $112.4 million, valued on a cash-free, debt-free basis. The transaction also provides for a potential one-time earn-out payment of up to $3.5 million.

The company expects the transaction to be immediately accretive to earnings per share. The company will provide an updated guidance during its third quarter earnings conference call.

Barr-Nunn provides dry van truckload transportation services from its headquarters near Des Moines, Iowa, and leased facilities located in Ohio, Pennsylvania, and North Carolina. The company's primary operating territory is the eastern United States.