Hub Group Acquires Forward Air Final Mile

Forward Air Acquires Proficient Transport to Expand Intermodal Drayage

February 12, 2021

Logistics & Distribution

Forward Air Corporation agreed to acquire the assets of Proficient Transport Incorporated and Proficient Trucking, Inc. for $15 million to expand its intermodal drayage footprint. The Chicago-headquartered Proficient Transport generates approximately $23 million in annual revenue, operates with 32 employees and ~130 independent contractors, and the deal is expected to close in February 2021.

Forward Air to Combine with Omni Logistics

August 10, 2023

Logistics & Distribution

Forward Air Corporation will combine with Omni Logistics in a cash-and-stock transaction that creates a scaled expedited LTL and multimodal logistics platform with approximately $3.7 billion of combined adjusted revenue for the 12 months ended June 30, 2023. Omni shareholders will receive $150 million in cash plus Forward common and preferred stock (resulting in Omni shareholders owning ~37.7% of the combined company on a fully-diluted basis); the deal is expected to generate up to $125 million of run-rate EBITDA synergies and close in H2 2023 subject to approvals.

Forward Air Acquires CLW Delivery, Inc.

September 16, 2020

Logistics & Distribution

Forward Air Corporation entered into an agreement to acquire the assets of CLW Delivery, Inc. for $5.5 million in cash, a transaction expected to close in October 2020. The acquisition expands Forward Air’s Final Mile footprint into 14 additional markets and adds CLW’s in-home installation capabilities; CLW is expected to contribute about $20 million of revenue and $1 million of EBITDA on an annualized basis.

Franchise Group Acquires FFO Home; Stores to Rebrand as American Freight

December 28, 2020

Retail

Franchise Group, Inc. has completed its acquisition of FFO Home, a regional furniture and mattress retailer. More than 30 FFO Home stores across the Midwest will be rebranded as American Freight Furniture, Mattress, Appliance, with customers redirected to the American Freight website and the addition of appliances, financing options and same-day delivery for in-stock items.

Forward Air Acquires J&P Hall Express

April 28, 2021

Logistics & Distribution

Forward Air Corporation agreed to acquire the assets of J&P Hall Express, a privately held expedited transportation provider headquartered in Atlanta, Georgia. The asset purchase (expected to close in May 2021) expands Forward Air's LTL pickup-and-delivery footprint in southern Georgia and northern Florida, adding approximately $15.8 million in annual revenue, ~70 trucks and about 110 employees.

Forward Air Acquires Edgmon Trucking to Expand West Coast Intermodal Drayage

May 9, 2022

Transportation

Forward Air Corporation has entered into an agreement to acquire the assets of Edgmon Trucking, LLC, a Kent, Washington-based intermodal drayage provider that generates about $22 million in annual revenue and employs 21 staff (with ~70 trucks operated mainly by independent contractors). The transaction will be funded from cash on hand, is expected to close in May 2022, and provides Forward Air its first West Coast location for its intermodal business to expand drayage capabilities at the Ports of Seattle and Tacoma.