Ryder Acquires Cardinal Logistics from H.I.G. Capital
February 1, 2024
Ryder System, Inc. has acquired Cardinal Logistics from H.I.G. Capital, integrating Cardinal’s dedicated contract carriage, freight brokerage and last-mile capabilities to strengthen Ryder’s dedicated transportation and supply chain services. Cardinal, founded in 1997 and headquartered in Concord, North Carolina, operates ~200 locations with a fleet of 2,900 power units and more than 3,400 drivers; Ryder expects synergies and accretion following integration.
- Buyers
- Ryder System, Inc.
- Targets
- Cardinal Logistics
- Sellers
- H.I.G. Capital
- Industry
- Transportation
- Location
- North Carolina, United States
- Transaction Type
- Buyout
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