FleetNet America | Stephens

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Back to transactions
FINANCIAL ADVISOR

FleetNet America

$100 Million 02/28/2023 Transportation & Logistics Complete
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Transaction Details

  • On February 28, 2023, ArcBest® (Nasdaq: ARCB) announced the sale of FleetNet America® (“FleetNet”), to Cox Automotive Mobility Solutions, Inc., a division of Cox Enterprises, Inc™
  • Terms of the transaction include a cash payment at closing of $100 million, subject to certain tax and other customary adjustments and customary representations and warranties of the seller
  • FleetNet is a provider of fleet maintenance and repair services

About the company

ArcBest® (Nasdaq: ARCB)
ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923, and now with over 15,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages its full suite of shipping and logistics solutions to meet customers’ critical needs, each and every day. For more information, visit arcb.com.

Cox Automotive
Cox Automotive is the world’s largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, automakers, dealers, retailers, lenders and fleet owners. The company has 25,000+ employees on five continents and a family of trusted brands that includes Autotrader®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital™ and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with $21 billion in revenue. Visit coxautoinc.com or connect via @CoxAutomotive on Twitter, CoxAutoInc on Facebook or Cox-Automotive-Inc on LinkedIn.

Sources: Company Filings and Press Release.
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