Knight-Swift acquires 3PL UTXL in $22.5M deal

Knight-Swift announces brokerage acquisition

The nation’s largest truckload carrier, Knight-Swift Transportation (NYSE: KNX) announced Tuesday the acquisition of Kansas City, Missouri-based third-party logistics provider UTXL in a $22.5 million transaction.

As a licensed broker for more than 20 years, UTXL specializes in full truckload, multi-stop, expedited and less-than-truckload shipments throughout North America. The company generated more than $100 million in revenue during 2020 with a low-90% operating ratio, according to the press...

Forward Air bolsters LTL service with J&P Hall acquisition

Forward Air continues M&A activity

Forward Air (NASDAQ: FWRD) announced Wednesday that it will acquire J&P Hall Express, a privately held, expedited transportation provider. The deal is expected to expand Forward’s regional less-than-truckload door-to-door operation.

Founded in 1989, Atlanta-based J&P Hall provides LTL, truckload, less-than-container-load and airport transfers with a fleet of 70 trucks and 110 employees across the Southeast. The company also provides container freight stationing services out of its Atlanta and...

Lineage Logistics fattens coffers again with $1.9B funding round

Fresh funding will fuel portfolio expansion

The largest temperature-controlled logistics provider in the world, Lineage Logistics, announced Thursday it has raised $1.9 billion in equity from various investors. Lineage plans to use the capital to fund various new developments, facility expansions and tech initiatives. The company will also use the money to remain active acquiring smaller cold storage operators.

The latest funding round adds to the $1.6 billion equity raise the company completed in September, bringing the total to $4.3...

Analysis: Apex deal makes Kuehne + Nagel largest air forwarder

Nose cone of a 747 jumbo freighter is open so cargo can be loaded.

Swiss logistics conglomerate Kuehne + Nagel International AG will become the largest airfreight forwarder in the world when it completes its purchase of Apex International Corp., edging out DHL Supply Chain, according to 2019 shipping data.

Kuehne + Nagel, currently ranked second, arranged movement for 1.6 million metric tons of airfreight in 2019, while Apex managed 520,000 tons. The combined volume of 2.12 million metric tons exceeds the 2.05 million tons handled by DHL, lists compiled by...

Kerry Logistics takeover by SF Holding creates ‘biggest logistics group in Asia’

Chinese express giant SF Holding is to acquire a 51.8% stake in Hong Kong’s Kerry Logistics Network – a landmark $2.3bn deal creating the “biggest logistics group in Asia”.
In a filing to the Shenzhen stock exchange late last night, SF Holding, which operates courier firm SF Express, said the move would help expand its international footprint and freight forwarding operations through Kerry’s extensive South-east Asia network and its strength on …

The post Kerry Logistics takeover by SF Holding...

TFI still making deals, acquires Fleetway

TFI acquires Fleetway

One week removed from the $800 million blockbuster deal for UPS’ (NYSE:UPS) LTL division, UPS Freight, which netted it a top-5 market share in the less-than-truckload space, TFI International (NYSE: TFII) is back at it, this time acquiring a smaller truckload carrier.

The Canadian trucking and logistics company announced Monday the acquisition of Brantford, Ontario-based Fleetway Transport. The nearly 40-year-old company specializes in full TL shipments and heavy-haul flatbed loads.


‘A perfect fit’ – Scan Global snaps up air and ocean forwarding arm of Werner

Scan Global Logistics has snapped-up Werner Global Logistics (WGL), the air and ocean forwarding arm of major US trucking brokerage Werner Enterprises.
WGL serves customers in the US, Mexico and China, its international forwarding operations generating $53m in 2020, and Werner said it would continue to provide North American truck brokerage, freight management, intermodal and final-mile services.
WGL is the latest in a string of acquisitions for Danish forwarder SGL after it …

The post ‘A...

Americold closes on $1.74B bid for Agro

Agro deal adds 46 facilities to Americold network

Temperature-controlled warehouse owner Americold Realty Trust (NYSE: COLD) announced the closing of its acquisition of Agro Merchants Group, the world’s fourth-largest cold storage operator. The $1.74 billion transaction was previously announced in mid-October.

The deal adds 46 facilities and 236 million cubic feet of refrigerated space to Americold’s network, which now includes 239 facilities with 1.41 billion cubic feet of cold storage.

Founded in 2013, the Netherlands-based Agro built a...

GATX picks up 18,000 tank containers in latest deal

GATX adds tank container fleet to portfolio

GATX (NYSE: GATX) announced Wednesday the acquisition of the fourth-largest tank container lessor globally, Trifleet Leasing Holding B.V., for 175 million euros ($215 million) in cash.

The Netherlands-based Trifleet owns and manages a portfolio of more than 18,000 tank containers, which it leases to providers in the chemical, industrial gas, energy, food, cryogenic and pharmaceutical sectors as well as tank container operators and shipping lines.

The all-cash deal closed Tuesday.


FitzMark sells majority interest to private equity firm

FitzMark recapitalization allows 3PL to focus on growth

FitzMark announced the completion of a majority recapitalization with Calera Capital, in which the private equity firm has acquired a majority interest.

Terms of the deal were not disclosed.

The Indianapolis-based third-party logistics provider has been very active acquiring brokerage shops in recent months, suggesting the proceeds from the recapitalization will likely be earmarked for future acquisitions.

Earlier this month, FirstMark announced the acquisition of Fetch Logistics, its third...

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.