acquisitions

In this edition: The first subzero organ transportation’s raging success, an acquisition between friends and it’s butter season.

RCG Logistics will immediately be integrated under the Acertus brand.

Oklahoma-based Diamond T Holdings, the parent company of truckload carrier Western Flyer Xpress, announced late Thursday the expansion of its freight network through an asset deal for the equipment and real estate of Springfield, Missouri-based Indiana Western Xpress Inc.

Inside this edition: Nearshoring to Mexico on the rise; Canada comes out on top again; Not your average Super 8-K makes headlines.

The terms of the merger between the two rapid grocery delivery firms may look different than previously reported.

Truckload carrier Ascend announced the acquisition of Wisconsin-based Fuchs Trucking, a regional carrier with 96 trucks and 90 drivers. (Photo: Fuchs Trucking)

If Kroger’s acquisition of Albertsons holds up with the FTC, the companies could be on the verge of a logistics power play.

Despite an economic slowdown, Walmart is putting money into automating its grocery fulfillment operations with Alert.

Oak Brook, Illinois-based Hub Group announced that it has acquired Tagg Logistics for $103 million in cash.

The e-commerce parcel shipping solutions provider is Descartes’ sixth acquisition since the beginning of 2021.

In what was a difficult quarter for American Eagle and retailers generally, the outfitter’s supply chain business showed promise.

With logistics subsidiary Quiet Platforms, American Eagle is developing a unique strategy to help retailers compete with Amazon.

Cummins Inc. expects to keep raising prices to stay ahead of inflation in the materials it buys for engines and powertrains.

Chicago-based Mark-It Express Logistics has acquired the operational assets of Joliet- Illinois-based Clean Car Connexion.

Traxens CEO David Marchand says that “known port congestion is only the tip of the iceberg.”

Following the seemingly unusual acquisition of AirTerra in August, American Eagle Outfitters is dipping back into the logistics well.

San Antonio-based Rush Enterprises, already far and away the largest U.S. network of commercial truck dealerships, is getting even bigger.

“When we overperform, we expect to reinvest that back into our business. We focus on recurring revenues and establishing relationships with customers for life,” said Descartes’ CEO.

The largest container terminal operator in the world is buying BDP, a midsize U.S. freight forwarder.

“Beginning with the 2018 merger of Transportation Insight and Nolan Transportation Group, we have been on a mission to bring together the most innovative thinkers with the most powerful technologies and data to empower the largest network of people to create a new future of logistics,” says CEO Ken Beyer.

Domestic headwinds were balanced out by an international expansion as DoorDash stock popped 10% in post-market trading.

PS Logistics has acquired Daryl Thomason Trucking, which has 108 tractors and 167 53-foot flatbed trailers.

Ideanomics, which operates at the intersection of fintech and disruptive technologies, is acquiring electric vehicle maker VIA Motors in an all-stock transaction.

The e-commerce-as-a-service provider gets a raise, led by Oak HC/FT.

The acquisition is a part of a five-year strategic plan to innovate and create disruption in the bulk trucking space.

“We believe combining with good businesses makes us a better company and it will remain a large part of our plans going forward.”

“They have built something that does make truckers’ lives easier. They help them find parking and cheaper fuel, along with their next load.”

Earlier this year, Vista Equity Partners was rumored to be combining the three companies within its portfolio to go public through the blank-check firm Apollo Strategic Growth Capital.

Allstates WorldCargo plans to grow its domestic footprint through continued acquisitions.

Yard services provider Lazer Spot acquired Firefly Transportation Services to “accelerate the adoption” of environmentally friendly electric spotter trucks.

“We will be better positioned, not just to compete with these large disruptors but to service those smaller customers and retailers that need access to both technology solutions and a large terminal network,” said Mullen Group CEO Murray K. Mullen.

Goodyear is buying Cooper Tire in a $2.5 billion “transformational” deal.

Dana Inc. spotted the trend toward zero-emission commercial vehicles four years ago when China offered incentives for battery-powered buses. That led the Tier 1 supplier to start buying and partnering with companies to build an all-in approach to electrification.

Transplace’s third acquisition of 2020 will help manufacturing companies manage inventory and orchestrate supplier networks.

Lineage Logistics has added 24 locations to its network of cold storage facilities through a series of acquisitions. The announcement follows a few large deals Lineage announced recently.

Deal brings PS just over 40 new power units

Amazon is looking to buy Zoox, a self-driving startup that seeks to create a fleet of electrified robo-taxis.

The best time to build on your company’s offerings through acquisitions may actually be during a global disruption.

Canadian environmental services company Aevitas adds flatbed fleet with the acquisition of Fast Lane Freight Services.

Transplace expands its mode optionality and network optimization to parcel.

Global container carrier sails deeper into North American warehouse and distribution services.

XPO announces deal to buy the majority of Kuehne + Nagel’s U.K. contract logistics segment. The deal comes shortly after XPO announced plans to divest units.

Transportation and logistics software provider 3Gtms acquires cloud-based shipping software provider Pacejet.

Canadian transportation company puts its money to work after raising $230 million in U.S. IPO as it works to grow its logistics business.

Polaris Transportation Group will get access to more freight for its Canada-to-U.S. less-than-truckload business with the purchase of Toronto-area 3PL brokerage PRI Logistics.

Americold sees “lots of occupancy opportunities” for cold storage moving forward.

Into its second decade of existence, Daseke pumps the brakes on acquisitions and attempts to streamline all that it has bought.

C.A.T.’s purchase of Manitoba truckload carrier will rev up east-west moves in Canada and cross-border freight with Western U.S. while expanding tractor count by 50%.

Daseke updates guidance, lowering the expected fourth-quarter loss. The company’s restructuring remains on track.

Heartland Express’ financial results were worse than expected in the fourth quarter of 2019. That said, a large acquisition shoulders more of the blame than weaker market fundamentals.

Deal to buy Utah-based company will expand Parkland Fuel’s presence in the Western United States with 84 locations and 63 trucks.

The companies share a vision of network optimization through continuous moves.

Spanish road freight startup Ontruck has acquired digital freight forwarding platform Briver, in an attempt to consolidate its market position in the Spanish region of Cataluña.

Freight forwarder Kuehne + Nagel is acquiring Rotra, a company with roughly 800 employees and an annual revenue of over €100 million.

Canadian firm’s earnings report reveals August purchases of Quebec cross-border carrier Craler and Georgia-based logistics provider

Canadian transportation and logistics firm’s freight-forwarding arm makes second acquisition in two weeks, purchasing a company specializing in moving refrigerated cargo and renewable energy components across the world.

The U.K.-based logistics company has been given due diligence access to the scandal-plagued trucking firm’s accounts.

Canadian third-party logistics provider purchases asset-based firms in Calgary specializing in large-format deliveries of consumer goods.

Ontario-based firm acquires Trailwood Transport, an automotive specialist located near two Honda plants, and nearby Nexus Freight, which will bolster local capacity.

Digital freight-forwarding platform grows European business – and gains 10,000 connected vehicles – after an aggressive year for fundraising.

Radiant Logistics, reported several records for fiscal 2019, but the company would most like to make an acquisition or two.

6 River Systems is a warehouse management and automation company that utilizes mobile robots named “Chuck” to improve efficiency in warehouse operations.

With the recent complaints about workers’ rights, it makes sense that Doordash, like every other on-demand mobility company, is thinking about efficiency and the cost of human labor.

This is AIT’s third acquisition in the past year.

Purchase of Worldwide Perishables Canada expands perishables business of world’s largest freight forwarder.

Purchase of Missouri-based Piston Tank Corporation grows Canadian transportation company’s U.S. specialty operations.

Purchase of Argus and Inter-Urban grows the Canadian company’s less-than-truckload business and brings C$25 million in annual revenue.

Two large private carriers are set to combine in a $2 billion deal that rebalances the food and beverage distribution landscape.

GWR acquired in $8.4 billion deal that many investors view as the plan all along.

Canadian John Deere dealership network enters trucking business with C$13.5 million deal.

The purchase is the latest in a string of acquisitions the company has completed in the past five years.

The acquisition will allow customers to operate their entire end-to-end supply chain from one place in the cloud.

Third-party logistics and multimodal transportation services company, Radiant Logistics, Inc. (RLGT), reported earnings of $0.11 per share for the quarter ending March 31, 2019 (RLGT’s third fiscal quarter 2019), $0.04 […]

Sumeru Equity specializes in middle market technology companies.

The seller was Swedish private equity group EQT Partners, which may be trying to clean up its balance sheet ahead of an IPO.

Acquisition of bulk transporter will grow Canadian TFI’s tanker presence in the United States.

U.S. private equity firm Platinum getting Canada’s largest customs broker for undisclosed sum

DP World (NASDAQ Dubai: DPW) announced that it will repurchase P&O Ferries from Dubai World according to a DP World press release. The acquisition will be worth BGP (British pound sterling) 322 million or $421 million. (All values will be converted to U.S. dollars.)

The combined brokerage expects to do $200 million in revenue this year.

Aterian Investment Partners Principal Michael Fieldstone said that his firm supported XGS CEO Darrel Harris and his management team and would provide capital to complete improvements to the business.

Incongruent payment cycles make it hard for low-credit businesses to fund their operations. BAM is a Fintech solution for the world’s oldest method of raising capital, factoring.

We spoke to Dave Dallas, CMO and President of Brokerage at SunteckTTS, about the addition of a brokerage centered on the West Coast.

FreightWaves spoke to GlobalTranz CEO Bob Farrell and AFN Logistics CEO Owen Schnaper about the deal.

Peter Stefanovich of Left Lane Associates, an M&A advisory firm for the transportation industry, talked to us about the current outlook for M&A and why now is the perfect time to sell.

Private equity group Summit Partners has acquired cloud-based TMS provider MercuryGate, and wants to bring the platform to Europe after fixing implementation issues.

PepsiCo announced today that it will take over Israel-based SodaStream known for its DIY seltzer makers, in a deal worth $3.2 billion.

Last week, analysts from Morgan Stanley—Rajeev Lalwani and Kai Pan—released a note listing the compelling reasons Berkshire Hathaway (NYSE: BRK.A) should consider buying Southwest Airlines (NYSE: LUV).

Universal is bullish on its intermodal division, and the Southern Counties acquisition will allow it to expand its footprint in that area.

Daseke purchased the Memphis-based steel and aluminum carrier for $53.8 million, including $3.4 million in Daseke stock. Builders Transportation reported an estimated $72.4 million in revenue and an estimated $9.7 million in Adjusted EBITDA for the trailing 12-month period ended June 2018.

Walmart is in talks to buy 75% of Flipkart, the largest Indian e-commerce company for $15 billion, which is set to be a game changer in the Indian e-commerce ecosystem.

Transportations companies with cross-border business are exposed to tariff risks; new home sales fall unexpectedly; the Dow crosses below its 120-day moving average; acquisition-minded trucking companies face new financial scrutiny; Target and Kroger merger rumors.

We see teaming up as a ‘2+2=5’ scenario and look forward to the coming years of continued growth and innovation,” said Scott Evanson, CEO of Smart Rhino Labs.

The Richmond-based carrier was privately held with approximately $100 million in revenue.

The popular parking and roadside amenities app Trucker Path changed ownership last week. Here is why Renren made the purchase. 

Strong rates and healthy economic fundamentals will pose opportunities and challenges for trucking mergers & acquisitions in 2018.

The merger of Knight Transportation and Swift Transportation may be the transportation highlight for the year, but there has plenty more activity revolving around mergers and acquisitions (M&A) in 2017, with no letup in sight.

TMW acquires truckload visibility aggregator, 10-4, continuing a trend of FreightTech acquisitions in the market transparency space. 

Two separate deals kicked off this week’s big transportation news as Greenbriar Equity Group has acquired Transplace and Descartes said it was acquiring MacroPoint.