Swift Transportation
A major American truckload carrier that became a brand and operating division of Knight-Swift Transportation Holdings after its 2017 merger with Knight Transportation.
Last updated August 26, 2026
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Overview
Swift Transportation is an American truckload transportation company and trucking brand headquartered in Phoenix, Arizona. Its roots lie in a small family trucking and leasing operation established by Carl and Betty Moyes in Utah during the late 1950s. After their son Jerry Moyes graduated from Weber State University, the family moved the business to Phoenix in 1966 and established the operation that developed into Swift Transportation. The company initially hauled imported steel from the ports of Los Angeles to Phoenix and returned with Arizona cotton destined for Southern California. Swift expanded from a regional carrier into one of the largest over-the-road trucking companies in the United States. Its business centered on truckload freight, using company-operated tractors, owner-operators, trailers, terminals, and cross-border services. The company also developed a presence in Mexico and Canada, including ownership of Trans-Mex, a carrier based in Nuevo Laredo, Mexico, and services supporting freight movements through Mexican border crossings. Over time, Swift grew through organic expansion and acquisitions of other motor carriers, including Cooper Motor Lines, Arthur H. Fulton Inc., M.S. Carriers, and the assets associated with Dick Simon Trucking. The Moyes family remained central to Swift's development. Jerry Moyes became president, chairman, and chief executive officer in 1984 and later consolidated control of the business. Swift went public on the NASDAQ market in 1990 under the symbol SWFT. It subsequently underwent a leveraged buyout led by Moyes in 2007, becoming privately controlled, before returning to public markets in 2010. The 2010 offering took place on the New York Stock Exchange and was intended in substantial part to reduce debt incurred through the buyout. Swift's history also includes labor and regulatory controversies. During the 1970 Teamsters strike, the company closed its Gardena, California operation and dismissed its drivers. The company maintained a non-union operating position thereafter. In 2005, Jerry Moyes left the chief executive role after a United States Securities and Exchange Commission investigation concerning insider trading; he settled the matter without admitting or denying wrongdoing. The company continued to operate a large fleet and terminal network through periods of economic expansion and contraction. In 2014, Central Refrigerated Service was sold to Swift and merged into the company, strengthening its refrigerated-freight capabilities. In April 2017, Swift Transportation merged with Knight Transportation in a transaction valued at approximately $6 billion. The resulting company was named Knight-Swift Transportation Holdings. Swift ceased to exist as an independent publicly traded company, but its name and operating activities continued within the combined transportation group as a major truckload brand and operating division.
History
Swift Transportation developed from the Moyes family's small trucking business. Carl and Betty Moyes operated B & C Truck Leasing in Plain City, Utah, during the late 1950s. In 1966, Carl and his sons Ronald and Jerry moved the enterprise to Phoenix, Arizona. The early operation, then associated with the Common Market name, transported imported steel from Southern California ports to Phoenix and hauled cotton on return trips. The business adopted the Swift Transportation name after the Moyes family acquired trucking assets associated with Swift & Company. During the 1970 Teamsters strike, Swift closed its Gardena, California facility and dismissed its drivers. The company subsequently maintained a strongly non-union position. Under the Moyes family and later Jerry Moyes, Swift expanded its fleet, terminals, service territory, and customer base, becoming a major United States truckload carrier. Jerry Moyes became president, chairman, and chief executive officer in 1984. Following Carl Moyes's death in 1985, Jerry bought out Ronald Moyes and partner Randy Knight, although Ronald retained shares and Knight later became associated with Knight Transportation. Swift acquired Cooper Motor Lines in 1988 and completed an initial public offering in 1990. In 1991 it acquired Arthur H. Fulton Inc. from Chapter 11 bankruptcy. Further expansion included the acquisition of M.S. Carriers in 2001, whose shareholders received a substantial stake in the combined company. In 2005, Jerry Moyes left the chief executive position after an SEC investigation into insider trading. He paid a $1.26 million settlement without admitting or denying wrongdoing. The Moyes family continued to own a significant portion of Swift's shares. In 2007, Moyes led a leveraged buyout that returned Swift to private ownership. The financing included senior secured credit and second-lien notes, while the transaction acquired the shares not already held by the family and assumed outstanding debt. Swift later returned to the public market. On December 16, 2010, Swift Transportation Company began trading on the New York Stock Exchange after an offering that raised approximately $766 million. The proceeds were used mainly to reduce debt. By this period, Swift operated a substantial network of terminals and cross-border services. Its operations included Trans-Mex in Mexico, services at Mexican border crossings, and coverage extending into Canada. The company also operated company-driver and owner-operator tractors, trailers, and intermodal containers. The acquisition of Central Refrigerated Service, completed on February 1, 2014, strengthened Swift's temperature-controlled transportation business. The decisive corporate change came in April 2017, when Swift merged with Knight Transportation. The combination created Knight-Swift Transportation Holdings, and Swift stopped operating as an independent public company. Its name continued as a significant truckload brand and operating division within the merged group.
- 2017
Merger with Knight Transportation
[1]Swift merged with Knight Transportation to form Knight-Swift Transportation Holdings, ending Swift's independent corporate and public-market identity.
- 2014
Central Refrigerated Service merger
[1]Central Refrigerated Service was sold to Swift and merged into the company, expanding its refrigerated transportation operations.
- 2010
Return to public markets
[1]Swift Transportation Company completed a New York Stock Exchange offering and used the proceeds largely to reduce debt.
- 2007
Leveraged buyout
[1]A Moyes-led acquisition returned Swift to private ownership in a highly leveraged transaction.
- 2005
CEO change following SEC investigation
[1]Jerry Moyes left the CEO position following an SEC insider-trading investigation and subsequent settlement.
- 2001
M.S. Carriers joins Swift
[1]Swift acquired M.S. Carriers of Memphis, Tennessee, in a transaction that gave M.S. Carriers shareholders a significant ownership interest in the combined company.
- 1991
Arthur H. Fulton acquisition
[1]Swift acquired Arthur H. Fulton Inc. for $9 million after the Virginia carrier filed for Chapter 11 bankruptcy.
- 1990
Initial public offering
[1]Swift became publicly traded on NASDAQ under the ticker SWFT.
- 1988
Cooper Motor Lines acquisition
[1]Swift acquired Cooper Motor Lines, expanding its carrier operations beyond its established western base.
- 1984
Jerry Moyes becomes chief executive
[1]Jerry Moyes became Swift's president, chairman, and chief executive officer as the company reached approximately $25 million in annual revenue.
Products and positioning
Large-scale, asset-based truckload carrier serving national, cross-border, and dedicated freight movements. The brand is associated with broad fleet capacity, extensive terminal coverage, and integration into the Knight-Swift transportation network.
Freight transportation · 1966
Truckload transportation
Swift's core business was asset-based truckload carriage, moving full trailer loads over domestic United States routes. Its operating model combined company drivers, owner-operators, tractors, trailers, terminals, dispatching, and freight-management capabilities.
Freight transportation
Dedicated transportation
Dedicated operations provide recurring trucking capacity assigned to particular customers, facilities, or freight networks. Swift developed this type of service as part of its broader truckload and contract-carriage portfolio.
Temperature-controlled logistics · 2014
Refrigerated transportation
Swift expanded into temperature-controlled freight through the acquisition and integration of Central Refrigerated Service. This line uses refrigerated equipment to transport goods requiring controlled temperatures across long-haul routes.
International trucking
Cross-border transportation
Through its Mexican operations and Trans-Mex subsidiary, Swift provided cross-border trucking and border-crossing support between the United States and Mexico. The company also maintained a presence in all Canadian provinces.
Intermodal logistics
Intermodal and container services
Swift operated intermodal containers alongside its tractor-and-trailer fleet, supporting freight movements that combine truck transportation with other modes. These assets complemented the company's primary over-the-road network.
Controversies
2015
Widow files wrongful-death lawsuit against Walmart and Swift Transportation
The widow of Wiley Clark filed a wrongful-death lawsuit against Walmart and Swift Transportation, alleging that they were responsible for her husband's death in a truck crash.
2005
SEC insider-trading investigation involving Jerry Moyes
Jerry Moyes was removed as Swift's chief executive after an SEC investigation concerning insider trading. He settled for $1.26 million without admitting or denying wrongdoing.
1970
Labor dispute during Teamsters strike
During the Teamsters strike, Swift dismissed its drivers and closed its Gardena facility. The company subsequently maintained a stated non-union position.
Brand decisions
2017
Merger with Knight TransportationM&ABackground
Swift and Knight were both major Phoenix-based trucking companies seeking to combine their fleets, networks, and operating businesses.
Action taken
The companies merged in a transaction valued at approximately $6 billion, creating Knight-Swift Transportation Holdings.
Aftermath
Swift ceased to exist as an independent public company and continued as a brand and operating division within Knight-Swift.
Reported transaction value. Approximately $6 billion (April 2017)
2014
Integration of Central Refrigerated ServiceM&ABackground
Swift sought to expand its temperature-controlled freight capabilities.
Action taken
Swift acquired Central Refrigerated Service and completed its merger into the company on February 1, 2014.
Aftermath
The transaction broadened Swift's refrigerated transportation operations.
2010
Return to public ownershipStrategyBackground
After the 2007 leveraged buyout, Swift carried substantial acquisition-related debt.
Action taken
Swift Transportation Company offered shares on the New York Stock Exchange and directed much of the proceeds toward debt reduction.
Aftermath
Swift became publicly traded again under the NYSE listing, with the offering representing a majority stake in the company.
IPO proceeds. Approximately $766 million (December 16, 2010 offering)
2007
Take-private leveraged buyoutM&ABackground
Swift's controlling Moyes family pursued a buyout after the company had been publicly traded for more than a decade.
Action taken
Saint Acquisition Corporation acquired the publicly held shares not already controlled by the family and assumed outstanding debt, using senior secured and second-lien financing.
Aftermath
Swift returned to private ownership until its 2010 public offering.
Transaction consideration for non-family shares. $2.4 billion, plus assumption of $332 million in debt (Transaction completed May 10, 2007)
Recent events
Widow files wrongful-death lawsuit against Walmart and Swift Transportation[2]
Reported:
The widow of Wiley Clark filed a wrongful-death lawsuit against Walmart and Swift Transportation, alleging that they were responsible for her husband's death in a truck crash.
Sources2 sources
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