FORWARD Air Corporation, an air cargo transportation services provider, has announced that it has entered into an agreement to acquire last mile services provider, FSA Logistix, for US$27 million
FORWARD Air Corporation, an air cargo transportation services provider, has announced that it has entered into an agreement to acquire last mile services provider, FSA Logistix, for US$27 million. The company said that the deal is expected to close next month, at which time FSA will be assigned to the final mile division of the Expedited LTL segment, reported Logistics Management, of Framingham, Massachusetts.
According to a Forward statement, FSA's core focus is in providing last mile logistics for various United States-based businesses, including national retailers, manufacturers, e-tailers and third-party logistics providers (3PLs). The company has management offices Fort Lauderdale, Florida and Southlake in Texas, as well as operations in the east, Midwest, southwest and west regions.
'We are extremely pleased to have FSA join the Forward Air family,' said Forward Air president Tom Schmitt. 'Together, we will significantly grow our existing final mile service offerings and take our precision execution directly to consumers' homes.'
Forward Air officials said that FSA is expected to contribute $75 million in revenue and $4.5 million of EBITDA a year.
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