Mergers and Aquisitions

Accelerated Global Solutions buys share of Malaysian logistics firm KGW

Freight forwarder Accelerated Global Solutions, which was acquired in November by startup parcel delivery service SpeedX, said Monday it has taken a 15% stake in Malaysia-based KGW Logistics. The transaction is part of owner Chris Zheng’s ambitious plan to develop within 18 months a $1 billion company capable of managing customers’ entire logistics process from origin to destination. 

The KGW investment expands Accelerated Global Solutions’ footprint in Asia and bolsters its trans-Pacific ocean...

https://www.freightwaves.com/news/accelerated-global-solutions-buys-share-of-malaysian-logistics-firm-kgw

Rand Logistics acquires liquid bulk specialist Andrie

Great Lakes bulker operator Rand Logistics Inc. has acquired Muskegon, Mich.-based Andrie LLC , from Auxo Investment Partners. Financial terms of the transaction were not disclosed.

Andrie is a bulk transporter of specialty liquid products including asphalt, cement, refined oil products, and calcium chloride using a fleet of specialty vessels that operate on all five Great Lakes and into the Illinois River. The acquisition will expand Rand’s service offering to include the bulk transport of both...

https://www.marinelog.com/news/rand-logistics-acquires-liquid-bulk-specialist-andrie/

Nippon Express buys European logistics firm Cargo-Partner

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Nippon Express, the seventh-largest third-party logistics provider in the world by gross revenue,...

https://www.freightwaves.com/news/nippon-express-buys-european-logistics-firm-cargo-partner

DSV snaps up Arizona trucking, logistics companies

DSV A/S, the third-largest global logistics provider by revenue, announced plans Tuesday to acquire two Arizona-based logistics companies owned by the same family to support its new market focus on the semiconductor industry and cross-border services to Mexico and Latin America.

The Danish transport and logistics company said it reached an agreement to take over S&M Moving Systems West and Global Diversity Logistics (GDL). Both companies are located in the Phoenix area and have 130 total...

https://www.freightwaves.com/news/dsv-snaps-up-arizona-trucking-logistics-companies

Fallout from Romeo Power near collapse stings Lightning eMotors

The near failure of battery startup Romeo Power — acquired by Nikola Corp. in an all-stock deal in August — took a toll on startup electrification converter Lightning eMotors, which expects fourth-quarter revenue to fall 80% below projections.

The shortage of Romeo battery packs for the medium-duty trucks and buses that Lightning eMotors converts to run on electricity reduced its Q4 revenue projection to $4 million from $13 million to $18 million, the Loveland, Colorado-based company said...

https://www.freightwaves.com/news/fallout-from-romeo-power-near-collapse-stings-lightning-emotors

Air cargo 2022: What went right and what went wrong

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Turbulence characterized the air cargo industry in 2022 for the third consecutive year. 

The easing of COVID conditions in most of the world was positive for reopening trade, but the recovery wasn’t always smooth for airlines, airports and aircraft manufacturers. China continued to maintain a series of lockdowns that constrained air traffic. The biggest shock to the system was Russia’s invasion of Ukraine, which drove up fuel prices and helped send the airfreight market into a steady decline for...

https://www.freightwaves.com/news/air-cargo-2022-what-went-right-and-what-went-wrong

Did Kroger and Albertsons just create a grocery delivery powerhouse?

grocery store kroger albertsons

The grocery delivery wars have a new challenger.

Long a two-horse race between Amazon and Walmart, the playing field may have shifted with Kroger’s (NYSE: KR) acquisition of Albertsons (NYSE: ACI), combining the second- and fourth-largest grocers in the country in terms of market share.

The $25 billion purchase is among the largest in the history of the U.S. grocery industry and is currently under scrutiny by regulators with the Federal Trade Commission. But if the deal holds up, Kroger and...

https://www.freightwaves.com/news/did-kroger-and-albertsons-just-create-a-grocery-delivery-powerhouse

Loaded and Rolling: Driver training surges; trucking M&A remains strong

Increasing demand for driver training programs 
(Photo: Jim Allen/FreightWaves)

Driver training schools are seeing an influx of those interested in joining the trucking industry. 

“We raised pay enough over the past two years that it’s caught people’s attention, and they are valuing the jobs that we are providing more now than they were a few years ago,” Rob Hatchett, president of fleet intel at Conversion Interactive Agency told Transport Topics, “But we’ve got to have more trainers so they can...

https://www.freightwaves.com/news/loaded-and-rolling-driver-training-surges-trucking-ma-remains-strong

Apollo-led investors acquire cargo airline Atlas Air for $5.2B

A white Atlas Air jumbo jet with blue tail, and gold lettering flies in blue sky.

Freighter airline Atlas Air Worldwide announced Thursday it is being acquired by investment funds led by Apollo Global Management in an all-cash deal that values the company at $5.2 billion and takes the company private. The buyout signifies a strong endorsement of future growth prospects for the air cargo industry.

Rumors had swirled all week that Atlas Air (NASDAQ: AAWW) was in final negotiations with Apollo on a buyout. Partnering with Apollo on the investment are J.F. Lehman & Co. and Hill...

https://www.freightwaves.com/news/apollo-led-investors-acquire-cargo-airline-atlas-air-for-52-billion

MHS, Fortna merging to provide end-to-end solutions globally

A truck drives along a highway next to a trail of ones and zeros representing automation

A pair of tech providers within the warehouse automation space, Louisville, Kentucky-based MHS Global and Atlanta-based Fortna, are combining to form a new multinational logistics provider, the companies announced this week.

MHS, one of the 10 largest materials-handling systems providers on the planet by worldwide revenue, will merge its automation technology with Fortna’s warehouse and distribution software solutions to form a joint provider of parcel, warehouse and distribution and life-cycle...

https://www.freightwaves.com/news/mhs-fortna-merging-to-provide-end-to-end-solutions-globally

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