XPO Logistics announced Friday the divestiture of its intermodal unit to STG Logistics for $710 million in cash. The sale is part of the company’s plan to break up the assets remaining after the spinoff of its European contract logistics segment last year.
STG is an asset-light containerized logistics provider based in Chicago. The company has been rolling up assets with the backing of middle-market private equity firm Wind Point Partners. The two had acquired 10 logistics outfits over the last...
https://www.freightwaves.com/news/xpo-breakup-advances-intermodal-unit-sold-to-stg-logistics