truckstops

Bridging the Divide in the Truck Parking Debate

The trucking industry is at a crossroads when it comes to truck parking. Rising operational costs, shrinking profit margins, and the emergence of services like Truck Parking Club are intensifying the debate over free vs. paid parking. At the heart of this issue is balancing driver needs, property rights, security, and fair compensation.

Technology has made it easier than ever for drivers to locate parking spaces. Yet, the fundamental question remains: should truck drivers have to pay for...

https://www.freightwaves.com/news/bridging-the-divide-in-the-truck-parking-debate

Love’s acquires freight factoring portfolio from REV Capital

Love’s announced Monday that its financial services unit has acquired a freight factoring portfolio from REV Capital. The deal adds more than 500 customers to the Love’s Financial platform.

Financial terms of the transaction were not disclosed. The deal closed on Friday.

“During a challenging freight market, this acquisition underscores Love’s commitment to grow strategically as a leader in helping owner operators and fleets of any size grow their business,” said Love’s President Shane Wharton in...

https://www.freightwaves.com/news/loves-acquires-freight-factoring-portfolio-from-rev-capital

‘Acquisitive’ convenience store chain Arko reveals itself as late TA bidder

A company whose market capitalization isn’t even $1 billion is going up against one of the world’s biggest energy companies to acquire TravelCenters of America.

Convenience store operator ARKO (NASDAQ: ARKO) announced Friday it was the company that made a $92-per-share offer to acquire TA, which has an agreement in place to be sold to BP (NYSE: BP) for $86 per share.

That there was another offer at a higher price was revealed in the TA (NASDAQ: TA) proxy filing with the Securities and Exchange...

Oil giant BP buying major truck stop chain TravelCenters

TravelCenters of America, which operates truck stops across the country under the TA brand, is getting bought by BP America.

The price of the acquisition is approximately $1.3 billion, or $86 per share. TA stock (NASDAQ: TA) closed Wednesday at $49.44 per share, for a premium of about 84% to the closing price.

“Today’s announcement that BP is acquiring TA for $86 per share is a result of the successful implementation of our turnaround and strategic plans,” TA’s CEO Jonathan Pertchik said in a...

https://www.freightwaves.com/news/oil-giant-bp-buying-major-truck-stop-chain-travelcenters