The merger will combine market stalwart Soar Transportation and its asset-based operation with Network Transport, an award-winning non-asset logistics company. Transportation industry veteran Jon Isaacson, with over 25 years of experience in executive leadership in the trucking industry, has been chosen to lead the merged company as its CEO.
SALT LAKE CITY, Utah – October 18, 2023 – Soar Transportation Group today announced plans to merge its asset-based trucking company with Tennessee-based Network Transport, an award-winning non-asset logistics company. Network features operating divisions across multiple transportation industry service verticals, including intermodal drayage, flatbed and bulk.
Marc Kramer, who has overseen Soar Transportation Group’s executive management team since 2014, will serve as the Chairman of the combined company. The CEO managing the day-to-day operations of the merged company will be Jon Isaacson, a transportation industry veteran with more than 25 years of executive leadership experience in the trucking industry.
“The merger of the two companies will allow the combined operation to leverage its highly efficient asset base, while cross-selling commercial solutions across both the asset and logistics divisions,” said Kramer. “Before launching the merger, we took a step back to assess how best to serve our customers, strengthen our overall operation, improve our profitability and foster accelerated growth both now and into the future. We listened to feedback from our customers and employees and believe the timing is right to merge the two companies in our efforts to position the company for continued success.
“Our employees selling the non-asset services available through Network noted the value of also offering asset-based solutions. The key point for our Network Team is how having asset- based solutions can accelerate revenue growth by serving our current customers and converting new customers with additional offerings,” Kramer added. “With our fleet on the trucking side, we have been in situations where we use third-party brokers to move our tractors. Being able to consistently leverage Network’s services on that front will drive greater utility and efficiency within our asset-based fleet.”
Isaacson began his career 35 years ago working at the terminal management level within Swift, including holding the responsibility of overseeing the 19 terminals which comprised Swift’s Eastern Network at that time. In 2000, Isaacson was tapped by Swift founder Jerry Moyes as CEO of Central Refrigerated, where he guided a turnaround, enabling Central to grow from 1,200 to 2,200 tractors during his tenure.
“Jon is a seasoned executive who is known for his ability to build strong teams and forge long-standing relationships with customers,” said Kramer. “He has an approach to business that is highlighted by a sense of integrity and recognition, and that is the type of culture we want to build and refine. “We’re in good hands with Jon as our CEO. He has been involved with successfully leading both small trucking businesses and much larger operations while continuing to develop a great reputation in the industry.”
Isaacson has benefited from the experience he gained while working on multiple acquisitions and integrating new carriers into the overall operation at Swift. In 2014, Isaacson displayed his entrepreneurial skills and used his extensive knowledge of the industry while launching KoldTrans Refrigerated, Inc., in partnership with Kevin Knight. KoldTrans went from a trucking start-up to become a strong-performing operation which was acquired by Knight-Swift as part of its merger in 2018.
Isaacson became part of the management team at Knight-Swift following the merger of two of the largest companies in the trucking industry. As Vice President of Dedicated Operations, Isaacson had oversight for Knight-Swift’s dedicated refrigerated operation nationwide as well as the company’s western region dry-van dedicated business.
“Looking back at my career, I feel both honored and grateful to have worked with two of the true icons in this industry in Jerry Moyes and Kevin Knight. The opportunities and experiences along with what I have learned over my 35 years in the industry will no doubt serve me well in my new position with the Soar Transportation Group,” said Isaacson. “I am thrilled to have been chosen to serve as CEO of the combined company. As I look at where things stand today with the opportunities we have in the current market and on the horizon, I see our combined company well positioned with lots of open runway. I believe we will be able to effectively leverage our asset base and drive accelerated growth for both the trucking and logistics divisions.
“We have incredible service offerings across our merged company that will benefit both our current and future customers,” Isaacson added. “We already know in this market there are shippers that, if you don’t have an asset base, they won’t even let you play ball. Our combined company has a strong asset base that we will continue to grow and we have a logistics network that is well established across a number of industry verticals. At the end of the day, it still comes down to providing value and consistently delivering a high level of service for our customers. We are committed to making that happen each and every day, and we will be working hard to draw upon our collective experience and expertise resident in both companies to provide creative solutions for our customers as we seek to differentiate our company. I’m energized and excited for the franchise that I am confident we will build through this merger.”
Merger Expected to Close by Year End
The proposed merger is subject to customary conditions to closing and is expected to be completed by the end of 2023.