In today’s edition of The Daily Dash, experts discuss how trucking will get to an electric future, Mack Trucks lays off 450, and a trucker allegedly kidnaps his wife, leading police on a wild chase.
Each company has its own culture, making mergers and acquisitions a painful process. However, acknowledging the needs and viewpoints of an acquired company may just do the trick.
TFI International grows U.S. specialty businesses with CT Transportation in second acquisition from bankrupt Comcar industries.
Chapman Freeborn buys Arcus Air Logistics, a longtime provider of ad-hoc charters and on-board courier services to the European automotive industry.
TFI International says it completed its acquisition of Gusgo Transport in a deal that adds a small Canadian container trucking and storage company.
The best time to build on your company’s offerings through acquisitions may actually be during a global disruption.
Logistics services provider is optimistic about African continent’s global freight potential, despite economic setbacks from COVID-19 pandemic.
TFI International acquiring Gusgo Transport, a small Canadian trucking company specializing in hauling and storing containers.
Cold storage consolidation remains hot. Lineage Logistics closes on Emergent Cold transaction, growing its already dominant global market share.
FedEx reported to be exploring alternative growth path in Europe through stake in German parcel company Hermes.
Ontario-based Joseph Haulage buys Bergland Transport to build on its growing business serving agriculture and food sectors.
Kriska looks beyond its cross-border bread and butter as it buys small drayage business from Wills Transfer
Trailer spotting and shuttle provider Lazer Spot acquires peer PHB Transport.
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.
Final-mile acquisitions continue. CRST adds to its service offering by acquiring NAL Group.
The rail industry could see merger activity in the next five to 10 years should the regulatory and economic environment make them necessary.
More mergers and acquisitions in the final-mile space as Atlas Logistics acquires last-mile solution in TopHAT deal.
Radiant Logistics reports a 25% slowdown in its last calendar quarter of 2019.
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%.
The acquisition will expand Regional Rail’s short line operations into North Carolina.
Once the auto industry’s largest supplier, Delphi will disappear as it is absorbed into BorgWarner.
The Nolan Transportation Group and Transportation Insight roll-up continues apace.
Top 25 less-than-truckload carrier Midwest Motor Express has been acquired by Red Arts Capital and Prudential Capital Partners.
With the acquisition of RDI Last Mile Co., J.B. Hunt’s Final Mile Services group will have 104 locations and 3.2 million square feet of warehouse space.
A portfolio of acquisitions culminates in a large sale. Genesee and Wyoming announces that the sale of the company has been completed.
NFI continues its consolidation of the drayage market, this time with a Southeast-concentrated trucking carrier and a large trailer pool.
Private equity firms are likely to continue M&As in freight rail industry next year and beyond, observers say.
First, we hit you with some of the latest headlines. Heniff Transportation and Superior Bulk Logistics are set to merge. Ohio-based GDS Express abruptly ceases operations. Rising wrestling star, Matt Travis, was struck and killed by truck driver, and a jury smacks a California trucking company with $70.5 million “nuclear verdict.” Plus, Amazon has some […]
Planned merger could create largest tank truck carrier in U.S. Heniff Transportation and Superior Bulk Logistics to merge.
Quebec-based Morneau Eskimo nearly doubles fleet with purchase of long-standing Toronto partner Beacon Transit Lines, strengthening coverage of food industry customers.
Liquid and dry bulk carrier TransWood, Inc. announces the acquisition of Kane Transport and its fleet of more than 150 tractors.
MODE Transportation announces that it has completed the acquisition of SunteckTTS.
Roadrunner Transportation continues to overhaul its portfolio with the sale of its flatbed unit.
France-based contract logistics provider ID Logistics Group SA gains access to a U.S. e-commerce platform in its acquisition of Jagged Peak.
Court indicts a few UPS employees for drug trafficking; EU commercial vehicle registrations decline; pop-up electric charging stations come up in Oxford.
Americold Realty Trust continues to grow its temperature-controlled storage footprint through acquisition. The company looked north of the border for its latest deal.
Third-party transportation and logistics provider MODE Transportation has acquired SunteckTTS for an undisclosed amount. The combined entity is expected to generate $2 billion in annual revenue.
A spate of deadly trucking-related accidents has taken place around Australia over the last week. Truck rollovers were a major contributor to the death toll. There was also a range of other tragic accidents involving moving vehicles. In other Down Under Trucking news, a criminal trucker gets years in jail for killing another driver; hill descent apps; Freightways buys Big Chill.
Canadian e-commerce company plans to scale its nascent U.S. Fulfillment Network in 2021, leveraging third-party warehouses and a robot-enabled platform from recent 6 River acquisition.
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.
Middle-market leveraged buyouts are cooling, but institutions still taking risk on the venture and growth equity side of the industry.
Group accused of hijacking of truck with 8,500 mobile devices, stealing three commercial vehicles and attempting warehouse robberies in an unusually well-planned and brutal case of cargo theft in Canada.
I.D. Systems, which renamed itself PowerFleet, will keep the Pointer brand, a well established player in the international wireless truck asset management space.
Electric vehicle firm boosts battery capabilities with the purchase of Toronto-area company specializing in high-volume manufacturing.
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.
A Solera board member alleges that in 2017 Vista tried to force it to buy another portfolio company, Omnitracs.
A sewage truck met a watery end in New South Wales; regulators in NSW have improved port access; National Transport Commission overhauls assurance framework; ATA wants truck drivers to be treated humanely; and K&S announces profit slump and sale of Regal General Freight.
Canadian logistics software company purchases U.S. firm whose TMS suite specializes in flatbed moves in North America and the EU.
Sime Darby Berhad (BM: 4197) has directly told FreightWaves it paid about NZ$211 million (US$136 million) to acquire automotive and construction machinery dealer Gough Group of New Zealand.
Ohio-based container yard/terminal management software system Depot Systems has today been bought by Sydney, Australia-based WiseTech Global (ASX: WTC) for an undisclosed sum.
Australia’s road transport industry has a way to go in ensuring gender equity. Research has found that female workers encounter misogyny, bullying and discrimination. In other Down Under Trucking news: mistake is no defence to trucking crime; supermarket boosts safety after loading dock death; logistics giant snaps up drayage business; CTI Logistics expects a small profit.
Kuala Lumpur-headquartered trading conglomerate Sime Darby (BMB: 4197) of Malaysia has conditionally acquired the privately held automotive and construction machinery dealer Gough Group of Christchurch, New Zealand.
Vancouver-based GTO Global Logistics acquired by Air Menzies International, providing “an important advantage a major global trading route.”
The Canada Pension Plan Investment Board is set to get controlling interest in the company that operates the highly profitable Ontario Highway 407 electronic toll road.
Companies that build a dedicated M&A program return more value to shareholders.
Australia’s competition watchdog, the Australian Competition and Consumer Commission (ACCC), has expressed competition fears over the acquisition of the wharf-side GrainCorp Liquid Terminals by independent bulk liquid storage company ANZ Terminals. The ACCC has formed a preliminary view that the potential sale would “substantially lessen competition”… and that’s the first step on the way to blocking the A$350 million (US$248 million) deal.
Investor speculation that VW’s Traton SE would complete an acquisition of Navistar International took a hit along with the share price July 17 when the head of Traton said he was satisfied with the present 16.8 percent of the Illinois company’s shares.
Logistics real estate company Prologis, Inc. acquires 37.5 million square feet in $4 billion deal.
It can be a rough business doing freight and logistics in Australia. And now, in the Australian capital city of Canberra, it looks like the last-mile drone delivery business has gotten a fair bit more… dangerous!
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.
Volkswagen’s spinoff of its heavy-truck unit TRATON paves the way for it to pursue Navistar further.
GWR acquired in $8.4 billion deal that many investors view as the plan all along.
Elderly driver charged following fatal truck collision and car explosion left two dead; competition law woes in hostile takeover; heavy vehicle roadworks and access; smart roads.
WABCO announced that its shareholders have approved the proposed acquisition by ZF Friedrichshafen.
Air Canada (TSE:AC) will acquire Transat A.T. (TSE:TRZ), the parent company of Canada’s third-largest airline, strengthening its position as the country’s dominant carrier. The companies announced on June 27 that they had reached a final agreement for Air Canada to pay C$520 million, or C$13 per share for Transat. (A Canadian dollar equals US$0.76.) Negotiations […]
Canadian John Deere dealership network enters trucking business with C$13.5 million deal.
North American lighting provider purchases Nashville-based firm specializing in location-based asset management.
Purchase of fellow New Brunswick carrier adds a long-haul open-deck business that serves Canada and the United States
Canadian freight brokerage buys Ontario-based non-asset firm that specializes in the manufacturing sector.
Purchase expands network in British Columbia with firm specializing in long-haul moves for heavy-industry customers.
Deal gives Montreal-based specialty carrier a Gulf Coast base for future expansion into the United States.
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 better than the consensus estimate and $0.06 better year-over-year. Total revenue increased 1 percent year-over-year to $206 million with net revenue climbing 8.5 percent to […]
Shipping container maker Singamas Container Holdings (HKEX:716) has announced that it will sell five of its subsidiary companies to Cosco Shipping Financial Holdings for RMB 3.8 billion. That’s about US$565 million.
During the morning session at Transparency19 on May 6, Stifel investment banker John Larkin moderated a discussion about mergers and acquisitions between Renee Krug, CEO of GlobalTranz; Doug Waggoner, CEO of Echo Global Logistics (NASDAQ: ECHO); and Mark Yeager, CEO of Redwood Logistics. Themes of the conversation included the differences between public and private investors’ […]
Canadian transportation and logistics firm buys Ontario-based broker that uses propriety software platform.
Deal puts Canadian international trade services company in $13 billion portfolio of Tom Gores’ private equity firm.
Automotive parts, tires, fuels and lubricant specialist U.S. Venture has bought energy information and supply chain management company Breakthrough Fuel for an undisclosed sum.
This is the year when ALK expects Virgin America merger synergies to ramp up, but they’re still adding back costs associated with the deal.
GlobalTranz more than doubled EBITDA in less than a year.
Circle 8 is GlobalTranz’s ninth acquisition since January 2017.
The seller was Swedish private equity group EQT Partners, which may be trying to clean up its balance sheet ahead of an IPO.
Valuations will stay high and capital is readily accessible, bringing both sellers and buyers to market.
CHRW fills out geographical white space and adds density to its Transatlantic forwarding business after turning the corner on the Milgram & Co. integration.
Worldwide customs and logistics software provider WiseTech Global has today announced the acquisition of Containerchain, a provider of a shipping container tracking and managing systems for AU$92 million (just over USD$65.8 million) in cash.
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.
Bridgestone Europe is acquiring TomTom Telematics for €910 million, a definitive step towards bolstering its presence in the “mobility solutions” segment. This acquisition would provide Bridgestone the leverage to up-sell and cross-sell solutions to a broader customer base.
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.
Joplin, Missouri-based Contract Freighter Inc (CFI) will “assume responsibility” for Chicago-based freight transport company, Optimal Freight, at the start of the New Year. Financial details of the transaction are not available at the time of writing.
The beleaguered carpet hauler was over-leveraged and running out of cash.
We spoke to GlobalTranz’s outgoing CEO Bob Farrell and new CEO Renee Krug about the transition in leadership and the marketplace for mergers and acquisitions in the 3PL space going forward into 2019.
Melbourne-based MaxiTRANS, an Australian manufacturer and supplier of trailers and road transport equipment, has bought a local live bottom trailer manufacturer. It has also disposed of its majority shareholding in a panel-making business in China.
This morning Fleet Complete, a global leader in connected vehicle technology and software, announced that it had been acquired by the Ontario Teachers’ Pension Plan, a large fund with $193.9B in assets.
XPO stock dragged down by soft Q3 results, M&A impatience.
We spoke to Dave Dallas, CMO and President of Brokerage at SunteckTTS, about the addition of a brokerage centered on the West Coast.
