Forward Air Mergers and Acquisitions Summary

TransportationCompany

Forward Air has acquired 13 companies, including 10 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 1 asset.

Forward Air’s largest acquisition to date was in 2015, when it acquired CLP Towne for $125M. It’s largest disclosed sale occurred in 2021, when it sold Forward Air - Pool Distribution Business to Ten Oaks Group for $20M. Forward Air has acquired in 11 different US states. The Company’s most targeted sectors include transportation (100%).

Join Mergr and gain access to Forward Air’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the transportation sector.

M&A Summary

  • M&A Total Activity14
    • M&A Buy Activity13
    • M&A Sell Activity1
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 3
  • 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 ≤ '17 '18 '19 '20 '21 '22 T
Buy (1.8/yr) # 4 - 2 2 4 1 13
vol $287M $84M $8M $15M $22M $416M
Sell (0.2/yr) # - - - - 1 - 1
vol $20M $20M
  14

Most Recent M&A

Company Date Value Type
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 Corp. - Pool Distribution Business 2021-02-12 20M USD Divestiture
Greeneville, Tennessee
Value Logistics, Inc. 2020-10-05 2M USD Add-on Acquisition
Memphis, Tennessee · www.valuelogistics.com
CLW Delivery, Inc. 2020-09-16 6M USD Add-on Acquisition
Johnson City, Tennessee · www.clwdelivery.com
Linn Star Transfer, Inc. 2019-12-12 57M USD Add-on Acquisition
Cedar Rapids, Iowa · www.linnstar.com
FSA Network, Inc. 2019-03-18 27M USD Add-on Acquisition
Fort Lauderdale, Florida · www.fsalogistix.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Transportation 13 (100%) 416M (100%) 1 (100%) 20M (100%)
Total 13 $416M 1 $20M

By Geo

State/Country Buy Value Sell Value
United States 13 416M 1 20M
  Tennessee 2 8M 1 20M
  Illinois 2 111M - -
  Wisconsin 1 - - -
  Washington 1 22M - -
  South Carolina 1 - - -
  Minnesota 1 - - -
  Michigan 1 66M - -
  Iowa 1 57M - -
  Indiana 1 125M - -
  Georgia 1 - - -
  Florida 1 27M - -
Total 13 $416M 1 $20M

Top M&A Advisors

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

Deal Values

buy # Total
$100M to $1B 1 $125M
< $100M 8 $291M
TOTAL $416M
Largest CLP Towne, Inc. (dba Towne Air Freight)
$125M (2015-03-09)
sell # Total
< $100M 1 $20M
TOTAL $20M
Largest Forward Air Corp. - Pool Distribution Business
$20M (2021-02-12)

M&A Connections

Deals
Acquired from
Investor(s)
15%
2 (15%)
Divested to
Investor(s)
100%
1 (100%)

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