activist investor

Activist investor urges Forward Air to go private

Activist investor Ancora Holdings Group is calling on Forward Air’s board to begin a strategic review and to engage with potential buyers. In an open letter to the company’s board, the group cited “overwhelmingly negative” total shareholder returns and “significant underperformance” in what it described as a “lost decade” for the expedited trucking company.

The Tuesday letter said the company could better cure its balance sheet and operational issues as a private entity, likely under the...

https://www.freightwaves.com/news/activist-investor-urges-forward-air-to-go-private

Forward Air investor flips to activist, may explore ‘strategic alternatives’

Private equity firm Clearlake Capital, which holds a 13.8% equity stake in Forward Air, said it may approach the company to discuss “strategic alternatives.” Last week, the investment firm changed its filing form with the Securities and Exchange Commission from passive interest to a version used by firms seeking to effect change.

The Santa Monica, California-based firm holds 3,825,000 of Forward’s (NASDAQ: FWRD) roughly 28 million outstanding shares, according to the filing. The group now joins...

https://www.freightwaves.com/news/forward-air-investor-flips-to-activist-may-explore-strategic-alternatives

Former CFO sees ‘better path’ for Forward Air

Activist investors seek changes at Forward Air

FreightWaves had a chance to talk with Andy Clarke, one of the activist investors looking to reshuffle the deck at expedited trucking company Forward Air (NASDAQ: FWRD). Clarke has held leadership roles with various transportation companies, including his time as CFO at Forward.

A December filing with U.S. Securities and Exchange Commission revealed that a group of investors, including Cleveland-based investment firm Ancora Advisors, Forward’s founder Scott Niswonger and Clarke, intend to make...

https://www.freightwaves.com/news/former-cfo-sees-better-path-for-forward-air

$90M activist investment seeks changes at Forward Air

Activist investors seek shakeup at Forward Air

A group of investors is looking to shake things up at expedited trucking company Forward Air (NASDAQ: FWRD), according to filings with the U.S. Securities and Exchange Commission.

Cleveland-based Ancora Advisors has taken on an activist role alongside former Forward founder Scott Niswonger and former CFO Andy Clarke. The group seeks to “enhance shareholder value” through a variety of measures including changes to the management team and board as well as capital allocation strategy. The documents...

https://www.freightwaves.com/news/90m-activist-investment-seeks-changes-at-forward-air