ArcBest (NASDAQ: ARCB) announced Wednesday after the market close it is acquiring Chicago-based truckload broker MoLo for $235 million in cash upfront with a potential earnout based on adjusted EBITDA targets from 2023 through 2025.
MoLo is expected to generate revenue of approximately $600 million in 2021 and will double ArcBest’s platform to 70,000 carriers. The deal will make ArcBest a top-15 truck broker in the U.S.
The deal is expected to deliver earnings accretion, excluding...
https://www.freightwaves.com/news/arcbest-to-acquire-molo-for-235m-potential-for-future-earnout