ArcBest announced Monday that it closed on the acquisition of Chicago-based truckload brokerage MoLo Solutions. The acquisition price included a $235 million upfront cash payment plus the potential for future earnout payments that could exceed the initial amount.
At $600 million in projected 2021 revenue, the MoLo deal advances ArcBest’s (NASDAQ: ARCB) goal to increase its asset-light operations to a level that is on par with its asset-based trucking unit. The deal will increase ArcBest’s...
https://www.freightwaves.com/news/done-deal-arcbest-closes-on-molo-235-million-initial-price-tag