M&A

Forward Air pre-announces Q3 expectations well ahead of consensus

Forward Air truck at a terminal

Forward Air (NASDAQ: FWRD) provided preliminary results for the third quarter of 2020 in a Wednesday evening 8-k filed with the U.S. Securities and Exchange Commission. The Greeneville, Tennessee-based trucking company expects earnings per share of approximately 60 cents, well above the current consensus estimates ranging from 40 to 43 cents per share but lagging the 2019 third quarter’s 78 cents.

The result includes a one-time charge of 6 cents related to “a litigated contract dispute.”

The...

https://s29755.pcdn.co/news/forward-air-pre-announces-q3-expectations-well-ahead-of-consensus

Scan Global Logistics expands again with PostNord’s Swedish Air & Ocean

PRESS RELEASE: The acquisition is the second one during 2020 whilst opening in several new countries in Europe. Scan Global Logistics is expanding their footprint even though the pandemic has been disrupting the transport and logistics market.
Scan Global Logistics announces the new acquisition of PostNord’s Swedish Air & Ocean activities as of October 1, 2020, including the employees who will bring valuable competencies and insights on the Swedish market and …

The post Scan Global Logistics...

https://theloadstar.com/scan-global-logistics-expands-again-with-postnords-swedish-air-ocean/

Americold acquires Agro Merchants Group in $1.74 billion deal

Agro's Icestar facility in Santiago, Chile

Cold storage warehouse owner and operator Americold Realty Trust (NYSE: COLD) announced on Tuesday that it has entered into an agreement to acquire the world’s fourth-largest temperature-controlled operator, Agro Merchants Group, for $1.74 billion.

The announcement follows several others over the last two years as the Atlanta-based real estate investment trust continues to expand its network through acquisition. Americold added facilities in Florida and Texas in August and was chosen by the East...

https://s29755.pcdn.co/news/americold-acquires-agro-merchants-group-in-174-billion-deal

TFI expands portfolio in Grammer Dry Bulk deal

Grammer Industries bulk rig on highway

Canadian transportation and logistics company TFI International (NYSE: TFII) continues to build out its portfolio, this time adding another bulk carrier to the mix. In a Monday press release, the Montreal-based company announced the acquisition of Grammer Logistics’ dry bulk business. 

A nearly 30-year-old entity, Grammer Dry Bulk was part of Sterling Transport, which was acquired by Grammer in 2019. The dry bulk unit hauls commodities like cement, sand, fly ash, salt and lime, generating...

https://www.freightwaves.com/news/tfi-expands-portfolio-in-grammer-dry-bulk-deal

Mullen Group adds customs warehouse, container delivery outfit to portfolio

Mullen facility

Canadian trucking and logistics company Mullen Group (TSX: MTL) announced an agreement to acquire Mississauga, Ontario-based International Warehousing & Distribution Inc. (IWD), a provider of customs warehouse and container delivery services.

IWD offers short-term warehouse storage of goods awaiting customs clearance, delivery of import and export airfreight, and full container delivery throughout the greater Toronto area. The company uses a group of dedicated contractors to facilitate pickup...

https://s29755.pcdn.co/news/mullen-group-adds-customs-warehouse-container-delivery-outfit-to-portfolio

Commentary: Why now is an excellent time to sell your logistics business

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

While the ball was already rolling prior to COVID-19, Transplace’s most recent acquisition is a strategic move that couldn’t come too soon. The leading logistics provider announced on Sept. 1 its acquisition of LeanCor Supply Chain Group, a consulting firm specializing in lean principles. This marks Transplace’s third acquisition of 2020. 

We’ve seen recent,...

https://s29755.pcdn.co/news/commentary-why-now-is-an-excellent-time-to-sell-your-logistics-business

sennder acquires Uber Freight Europe

Uber (NYSE: UBER) announced Wednesday morning that it had agreed to sell the European division of its Freight business to sennder, the Berlin-based digital freight brokerage. 

In June, sennder acquired Everoad, its French rival, reaching six locations and 350 employees. In July, sennder closed a tie-up deal with Poste Italiane to manage the Italian postal service’s €100 million full truckload spend.

The all-stock deal, worth less than $1.1 billion according to reports, gives Uber an equity stake...

https://www.freightwaves.com/news/sennder-acquires-uber-freight-europe

Forward Air acquires another final-mile provider

Forward Air truck at terminal

Forward Air (NASDAQ: FWRD) announced that it has acquired another last-mile provider to build out its network. This time the Greeneville, Tennessee-based trucking company had to travel only 30 miles Northeast to acquire Johnson City, Tennessee-based CLW Delivery Inc.

The Wednesday press release said the $5.5 million deal will be funded with cash on hand and close in October.

CLW specializes in final-mile delivery and in-home installation for retailers and manufacturers. The outfit generates $20...

https://www.freightwaves.com/news/forward-air-acquires-another-final-mile-provider

Transplace acquires consulting firm LeanCor Supply Chain Group

Tuesday morning, Transplace, a leading managed transportation and logistics services provider, announced the acquisition of LeanCor Supply Chain Group, a Florence, Kentucky-based consulting firm focused on end-to-end supply chain consulting, training, solutions and lean manufacturing principles.

LeanCor was founded in 2005 by Robert Martichenko, a recognized expert in lean principles, and grew to more than 100 employees. The deal was Transplace’s third this year, following the acquisitions of...

https://s29755.pcdn.co/news/transplace-acquires-consulting-firm-leancor-supply-chain-group

Improved execution to ‘open doors’ for Daseke; acquisitions on horizon

Daseke affiliate truck carrying tires on highway

The nation’s largest flatbed carrier, Daseke Inc. (NASDAQ: DSKE), could see more “doors open” if it continues to succeed on its turnaround plan. An improving capital structure could lead to the resumption of acquisitions, providing the catalyst for the carrier’s next phase of growth. Of course, all of this hinges on its ability to continue to execute, according to CFO Jason Bates.

In an interview with FreightWaves, Bates said he believes a couple more quarters of improved execution will provide...

https://s29755.pcdn.co/news/improved-execution-to-open-doors-for-daseke-acquisitions-on-horizon

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