Forward Air - M&A Summary and Business Overview

TransportationCompany

Forward Air M&A Summary

Forward Air has acquired 17 companies, including 13 in the last 5 years. A total of 4 acquisitions came from private equity firms. It has also divested 2 assets.

Forward Air’s largest acquisition to date was in 2023, when it acquired Omni Logistics for $150M. It’s largest disclosed sale occurred in 2023, when it sold Forward Air - Final Mile Business to Hub Group for $262M. Forward Air has acquired in 14 different US states. The Company’s most targeted sectors include transportation (100%).

Forward Air Business Overview

Where is Forward Air headquartered?

Forward Air is headquartered in Greeneville, Tennessee.

What is Forward Air’s revenue?

Forward Air disclosed revenue of 1,973M USD for 2022 and 1,662M USD for 2021.

How many employees does Forward Air have?

Forward Air has 4,155 employees.

What sector is Forward Air in?

Forward Air is a transportation company.

When was Forward Air founded?

Forward Air was founded in 1981.

M&A Summary

  • M&A Total Activity18
    • M&A Buy Activity16
    • M&A Sell Activity2
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 6
  • M&A Advisors 2

Forward Air

Forward Air Corp.

Building N 1915 Snapps Ferry Road,
Greeneville, Tennessee 37745
United States,
(423) 636-7000
www.forwardair.com

Forward Air is a provider of time-definite surface transportation and related logistics services to the North American expedited ground freight market.Forward Air Corporation operates three business segments, Forward Air, Inc., Forward Air Solutions, Inc. and Total Quality, Inc. Forward Air was incorporated in 1981 and is based in Greeneville, Tennessee.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.0/yr) # 6 2 4 2 2 - 16
vol $371M $8M $15M $22M $207M $622M
Sell (0.4/yr) # - - 1 - 1 - 2
vol $20M $262M $282M
  18

Most Recent M&A

Company Date Value Type
Forward Air - Final Mile Business 2023-12-20 262M USD Divestiture
, United States
Omni Logistics LLC 2023-08-10 150M USD Add-on Acquisition
Coppell, Texas · www.omnilogistics.com
Land Air Express, Inc. 2023-01-04 57M USD Add-on Acquisition
Wichita, Kansas · www.landairexpress.com
Chickasaw Container Services, Inc. 2022-11-07 - Add-on Acquisition
Mobile, Alabama · www.ccsusa.biz
Edgmon Trucking LLC 2022-05-09 22M USD Add-on Acquisition
Kent, Washington · www.edgmontrucking.com
BarOle Trucking 2021-11-03 - Add-on Acquisition
Hudson, Wisconsin · www.baroletrucking.com
TKI Intermodal 2021-11-03 - Add-on Acquisition
Minneapolis, Minnesota · www.tkiintermodal.com
J&P Hall Express 2021-04-28 - Add-on Acquisition
Forest Park, Georgia · www.jphallexpress.co
Proficient Transport, Inc. 2021-02-12 15M USD Add-on Acquisition
Chicago, Illinois · www.proficienttransport.com
Forward Air - Pool Distribution Business 2021-02-12 20M USD Divestiture
Greeneville, Tennessee
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Transportation 16 (100%) 622M (100%) 2 (100%) 282M (100%)
Total 16 $622M 2 $282M

By Geo

State/Country Buy Value Sell Value
United States 16 622M 2 282M
  Tennessee 2 8M 1 20M
  Illinois 2 111M - -
  Georgia 1 - - -
  Florida 1 27M - -
  Alabama 1 - - -
  Wisconsin 1 - - -
  Washington 1 22M - -
  Texas 1 150M - -
  South Carolina 1 - - -
  Minnesota 1 - - -
  Michigan 1 66M - -
  Kansas 1 57M - -
  Iowa 1 57M - -
  Indiana 1 125M - -
Total 16 $622M 2 $282M

Top M&A Advisors

Financial Deals
Raymond James - Investment Banking
 3
Legal Deals
Carlton Fields
 1

Deal Values

buy # Total
$100M to $1B 2 $275M
< $100M 9 $347M
TOTAL $622M
Largest Omni Logistics LLC
$150M (2023-08-10)
sell # Total
$100M to $1B 1 $262M
< $100M 1 $20M
TOTAL $282M
Largest Forward Air - Final Mile Business
$262M (2023-12-20)

M&A Connections

Deals
Acquired from
Investor(s)
19%
3 (19%)
Divested to
Investor(s)
50%
1 (50%)
Strategic(s)
50%
1 (50%)

Company Summary

SECTOR

Transportation

Revenue

1,973   19% 2022
1,662   31% 2021
1,270   10% 2020
1,410   7% 2019
1,321   20% 2018
1,101   13% 2017
983   3% 2016
959   23% 2015
781   20% 2014
652   12% 2013
584   2012
(millions of USD) Show More Show Less

Employees

4,155

Established

1981

Public

NASDAQ: FWRD

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