M&A Deal Summary

Hub Group Acquires Forward Air - Final Mile Business

On December 20, 2023, Hub Group acquired transportation company Forward Air - Final Mile Business from Forward Air for 262M USD

Acquisition Highlights
  • This is Hub Group’s 8th transaction in the Transportation sector.
  • This is Hub Group’s 2nd largest (disclosed) transaction.
  • This is Hub Group’s 8th transaction in the United States.

M&A Deal Summary
Date 2023-12-20
Target Forward Air - Final Mile Business
Sector Transportation
Buyer(s) Hub Group
Sellers(s) Forward Air
Deal Type Divestiture
Deal Value 262M USD

Target

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.

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Buyer(S) 1

Buyer

Hub Group

Oak Brook, Illinois, United States

website

Category Company
Founded 1971
Sector Transportation
Employees5,900
Revenue 5.3B USD (2022)
DESCRIPTION
Entrance to Hub Group's corporate headquarters in Oak Brook, Illinois.
Entrance to Hub Group's corporate headquarters in Oak Brook, Illinois.

Hub Group is an asset-light freight transportation management company providing intermodal, truck brokerage and logistics services. Hub Group was formed in 1971 and is based in Oak Brook, Illinois.

DEAL STATS #
Overall 8 of 8
Sector (Transportation) 8 of 8
Type (Divestiture) 1 of 1
Country (United States) 8 of 8
Year (2023) 1 of 1
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-22 TAGG Logistics

St. Louis, Missouri, United States

TAGG Logistics is a third-party logistics (3PL) provider specializing in order fulfillment, contract distribution services, and contract packaging, kitting, and assembly. TAGG Logistics is the nationwide fulfillment, distribution, and packaging provider built to deliver Your Business EverywhereSM by efficiently serving consumers when, where, and how they shop today. TAGG Logistics was founded in 2006 and is based in St. Louis, Missouri.

Buy $103M

Seller(S) 1

SELLER

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 2 of 2
Sector (Transportation) 2 of 2
Type (Divestiture) 2 of 2
Country (United States) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-10 Omni Logistics

Coppell, Texas, United States

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.

Buy $150M
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