M&A Deal Summary

Forward Air Acquires CLP Towne

On March 9, 2015, Forward Air acquired transportation company CLP Towne from Centre Lane Partners for 125M USD

Acquisition Highlights
  • This is Forward Air’s 3rd transaction in the Transportation sector.
  • This is Forward Air’s 2nd largest (disclosed) transaction.
  • This is Forward Air’s 3rd transaction in the United States.
  • This is Forward Air’s 1st transaction in Indiana.

M&A Deal Summary
Date 2015-03-09
Target CLP Towne
Sector Transportation
Buyer(s) Forward Air
Sellers(s) Centre Lane Partners
Deal Type Add-on Acquisition
Deal Value 125M USD

Target

CLP Towne

South Bend,, Indiana, United States
website
Towne Air Freight LLC is a full-service trucking provider offering time-sensitive less-than-truckload shipping, full truckload service, an extensive cartage network, container freight stations and dedicated trucking.

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Buyer(S) 1

Buyer

Forward Air

Greeneville, Tennessee, United States

website

Category Company
Founded 1981
Sector Transportation
Employees4,155
Revenue 2.0B USD (2022)
DESCRIPTION

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.

DEAL STATS #
Overall 3 of 16
Sector (Transportation) 3 of 16
Type (Add-on Acquisition) 3 of 16
State (Indiana) 1 of 1
Country (United States) 3 of 16
Year (2015) 1 of 1
Size (of disclosed) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-23 Central States Logistics

Bensenville, Illinois, United States

CST provides container and intermodal drayage services primarily within the Midwest region of the United States. CST also provides linehaul service within the airport-to-airport space, as well as, dedicated contract and Container Freight Station warehouse services.

Buy $96M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-10 Atlantic Trucking

Charleston, South Carolina, United States

Atlantic Trucking Co., Inc. is a provider of an intermodal, drayage and related services. Atlantic Trucking was established in 1984 and is based in Charleston, South Carolina.

Buy -

Seller(S) 1

SELLER

Centre Lane Partners

website

Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Centre Lane Partners is a private investment firm focused on making credit and equity, control and non-control, investments in North American middle-market companies. Centre Lane targets companies with revenues between $20 and $500 million that have leading market positions and sustainable competitive advantages in their respective niches. The Firm does not have any sector preferences and seeks to invest $5 to $250 million per transaction. Centre Lane Partners was formed in 2007 and is headquartered in New York City.

DEAL STATS #
Overall 1 of 7
Sector (Transportation) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Indiana) 1 of 1
Country (United States) 1 of 6
Year (2015) 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-30 Staci

Saint-Ouen-l'Aumône, France

Staci is a third-party logistics provider with a focus on complex retail logistics. Staci offers innovative B2B and B2C logistics solutions for companies wishing to outsource all or part of their logistics and distribution. Staci was founded in 1989 and is based in Saint-Ouen-l'Aumône, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-10 Shemin Nurseries

Windsor, Connecticut, United States

Shemin Nurseries, Inc. (dba Shemin Landscape Supply) is a distributor and wholesaler of horticultural and landscape products to landscape professionals. It offers nursery stock ranging from woody ornamentals to annuals, perennials, specimens, and groundcovers.

Sell -
Mergr

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