Forward Air Acquires Value Logistics to Bolster Intermodal Drayage in Memphis

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 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.

Forward Air Acquires Chickasaw Container Services

November 7, 2022

Transportation

Forward Air Corporation has entered into an agreement to acquire the assets of Chickasaw Container Services, a privately held intermodal drayage provider with terminals in Mobile, Alabama and Memphis, Tennessee. The cash-funded transaction is expected to close in November 2022 and will expand Forward's intermodal drayage footprint in the Mobile market while strengthening its presence in Memphis.

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.

Jones Logistics (Jones Capital) Acquires Volume Freight

February 28, 2020

Transportation

Jones Capital's portfolio company Jones Logistics has acquired Volume Freight, a family-owned logistics and transport company based in Columbus, Mississippi. The deal is the first add-on for Jones Logistics and brings approximately 80 employees to the platform as Jones looks to expand its service offering and technology capabilities in transportation and freight brokerage.