Forward Air and Omni Logistics to merge
11 / 08 / 2023
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Global multimodal provider of air, ocean and ground services Omni Logistics will merge with Forward Air, a provider of transportation services across the US, Canada and Mexico.
The definitive agreement will create a combined company that generated approximately $3.7bn of adjusted revenue for the twelve months ended June 30.
“The combination of Forward and Omni creates a scaled, premier, high-value, less-than-truckload (“LTL”) enterprise focused on providing customers with multimodal solutions for complex, high-service, and high-value freight needs,” said Omni Logistics.
The deal will provide Forward with access to more than 7,000 customers, an increased domestic footprint, and a portfolio of essential logistics services, multimodal operations, and supply chain services.
Headquartered in Dallas, Texas, Omni is an asset-light logistics and supply chain management company operating in high-growth end markets.
Omni delivers domestic and international freight forwarding, fulfillment services, customs brokerage, distribution, and value-added services for time-sensitive freight to US-based customers operating both domestically and internationally.
The company is majority owned by Ridgemont Equity Partners and EVE Partners.
Headquartered in Greeneville, Tennessee, Forward Air is an asset-light provider of transportation services across the US, Canada and Mexico.
It provides expedited LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals. The company also offers final mile services.
Tom Schmitt, chairman, president and chief executive of Forward, said: “The combination of Omni with Forward creates a company positioned to achieve the full potential of our LTL business, provide a broad offering of complementary services to our customers, and deliver meaningful value for our shareholders.
“Bringing together our organizations is a key stepping stone of the fourth and final phase of our Grow Forward journey to focus on high-value freight, develop an efficient operating network, implement strategic pricing discipline, and drive an expanded customer base.”
J.J. Schickel, chief executive of Omni, stated: “We are excited to have found in Forward a like-minded partner who shares our commitment to strong customer relationships and unrivalled service, central tenets of our success in growing our customer base from 300 to 7,000 over the last five years.
“I am very proud of what Omni accomplishes daily for our customers and am thrilled to bring our companies and teams together to achieve the full potential of our combined force.”
