Barry Smith's Transport Company sells for $170 Million

With a $500 loan from his father in 1975, Barry F. Smith of Roaring Spring invested in the first of what turned out to be a vast fleet of trucks and trailers that was worth $50 million in 1998 and was just sold to Heartland Express of Iowa for $170 million.

Smith Transport and Heartland Express emphasized that the sale will not affect the workforce or operations by the Roaring Spring company. There will be no layoffs and business will continue as usual.

Smith, 75, the second of five children born to Clair and Rosie Smith and raised on a farm near the Albright church in Taylor Township, explained his early thinking and fascination with the trucking business. At Central High School, class of 1965, he excelled in mathematics and thought of teacher Joseph Conlon as a role model. “But when I graduated from Central, I had no interest in going to college. I had trucking on my mind and in my blood, and wanted to begin a career in that field.”

His initial job was with the E.F. “Pete” Smith (no relation) trucking firm outside Roaring Spring. He stayed with Pete for 10 years. Gradually he realized that he possessed planning and executive skills that would make him a leader, rather than a follower, in the trucking business.

In 1978 Smith used his $500 loan to recondition a “trashed out” truck and hired his first driver. He continued to drive tractors himself, kept the company’s books and handled all the administrative details. Over the years, he leased more equipment and acquired a reputation for dependable performance. His equipment was always clean and well maintained and his drivers enjoyed modern on-the-road living accommodations that were the envy of any first-rate motel operation.

By 2000, Smith owned more than 400 trucks, 1,000 trailers and employed 1,200 people throughout the U.S. He projected growth over the next 10 years to exceed 2,000 vehicles and employment of 6,000 people in the driver, maintenance, management and support areas.

In recent years, Smith Transport grew at an almost 25 percent annual rate. His operation doubled in almost four years.

This Barry Smith success story was made possible by a $500 loan from his dad, hard work and a vision of the future. That success was not lost on the nationwide trucking industry and led to the Heartland offer to buy.