M&A Deal Summary

Forward Air Acquires Central States Logistics

On January 23, 2014, Forward Air acquired transportation company Central States Logistics for 96M USD

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

M&A Deal Summary
Date 2014-01-23
Target Central States Logistics
Sector Transportation
Buyer(s) Forward Air
Deal Type Add-on Acquisition
Deal Value 96M USD

Target

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.

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Buyer(S) 1

Buyer

Forward Air

Greeneville, Tennessee, United States
Category Company
Founded 1981
Sector Transportation
Employees4,014
Revenue 1.4B USD (2023)
DESCRIPTION

Forward Air is a provider of time-definite surface transportation and related logistics services. Forward Air 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 16
Sector (Transportation) 2 of 16
Type (Add-on Acquisition) 2 of 16
State (Illinois) 1 of 2
Country (United States) 2 of 16
Year (2014) 1 of 1
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-04 Total Quality

Grand Haven, Michigan, United States

Total Quality, Inc. is a niche transportation services company focused primarily on cold chain transportation and logistics (transportation of temperature sensitive shipments ranging from food products to pharmaceuticals). TQI also provides brokerage services and third party logistics services to customers in a variety of end markets.

Buy $66M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-09 CLP Towne

South Bend,, Indiana, United States

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.

Buy $125M
Mergr

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