M&A Deal Summary

Forward Air Acquires Omni Logistics

On August 10, 2023, Forward Air acquired transportation company Omni Logistics from Ridgemont Equity Partners and Everberg Capital for 150M USD

Acquisition Highlights
  • This is Forward Air’s 16th transaction in the Transportation sector.
  • This is Forward Air’s largest (disclosed) transaction.
  • This is Forward Air’s 16th transaction in the United States.
  • This is Forward Air’s 1st transaction in Texas.

M&A Deal Summary
Date 2023-08-10
Target Omni Logistics
Sector Transportation
Buyer(s) Forward Air
Sellers(s) Ridgemont Equity Partners
Everberg Capital
Deal Type Add-on Acquisition
Deal Value 150M USD

Target

Omni Logistics

Coppell, Texas, United States
website
Omni Logistics is a provider of global third-party logistics services, including freight forwarding, eCommerce fulfillment, and other value-added supply chain services. Omni Logistics was founded in 2000 and is based in Coppell, Texas.

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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 16 of 16
Sector (Transportation) 16 of 16
Type (Add-on Acquisition) 16 of 16
State (Texas) 1 of 1
Country (United States) 16 of 16
Year (2023) 2 of 2
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-04 Land Air Express

Wichita, Kansas, United States

Land Air Express is a privately held full-service expedited LTL provider that offers a variety of services, including guaranteed, standard, exclusive, same-day, hot shot, and pickup and delivery. Land Air Express is based in Wichita, Kansas.

Buy $57M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-20 Forward Air - Final Mile Business

United States

Forward Air's Final Mile Business provides residential final mile delivery and installation of big & bulky goods, with a focus on appliances. Through a network of independent service providers and 46 company-operated facilities, FAFM has delivery coverage throughout the continental US.

Sell $262M

Seller(S) 2

SELLER

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1993
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $250 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 90 of 90
Sector (Transportation) 4 of 4
Type (Add-on Acquisition) 35 of 35
State (Texas) 19 of 19
Country (United States) 79 of 79
Year (2023) 2 of 2
Size (of disclosed) 21 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-16 Whistler Pipeline

United States

Whistler Pipeline is an core energy infrastructure system connecting the Permian Basin’s growing natural gas supply to LNG, Mexico, and Gulf Coast demand. Whistler Pipeline is based in United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-06 SmartShift

Mannheim, Germany

SmartShift is a tech-enabled services provider for SAP custom application migrations, upgrades and transformations. SmartShift is based in Mannheim, Germany.

Buy -
SELLER

Everberg Capital

Investor

website

Category Private Equity Firm
Founded 2019
Size Small
Type Sector Agnostic
DESCRIPTION

Everberg Capital is a private investment firm that looks to partner with family-owned businesses, entrepreneurs, and financial sponsors with capital for acquisition financing, leveraged buyouts, growth opportunities, and recapitalizations. Broad areas of interest include industrials, business services, consumer products/services, and healthcare. Everberg can invest across the capital structure and seeks to commit $10 to $100 million per transaction. Everberg Capital was formed in 2019 and is based in New York City.

DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-08 Veyo

San Diego, California, United States

Veyo is a non-emergency medical transportation company. Veyo sought to reinvent the patient transportation model by integrating consumer technology with healthcare-credentialed rideshare fleets to decrease costs and increase efficiency. Veyo was founded in 2016 and is based in San Diego, California.

Buy -
Mergr

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