4 Successful Transportation Mergers Of All Time
In the past few years, there have been a number of activities in the transportation industry in terms of M&As. Let’s take a look at the most prominent mergers and acquisition in the transportation industry:
1. FedEx Acquires TNT Express
In 2015, FedEx announced the acquisition of its rival European transport and logistics company TNT Express. By taking over the international operations of TNT, FedEx successfully launched itself in the European market. TNT’s extensive network includes 55,000 on-road trips each week and about 700 flights. No doubt, FedEx very soon became one of the most important delivery companies operating in Europe, expanding its trans-Atlantic coverage.
2. Central Transportation International acquires U.S LTL
Toronto-based less-than-truckload or LTL carrier and transportation company Vitran Corp. sold its US-based LTL service to Central Transport International, another LTL based carrier service provider. The Vice Chairman of Central Transport International Matthew Moroun acquired 100% stocks of US LTL by paying $2 million. As per industry experts, this will help Vitran Corp. to focus on its Canadian LTL business.
3. Jack Cooper Transport Co. buys Allied Systems Holdings
Jack Cooper Holding, one of the leading automotive transportation companies agreed to acquire the leading car hauler in the USA, Allied Systems Holding. The deal was sealed at $ 135 million. This acquisition makes Jack Cooper Holding the largest transportation company in North America. Both these companies are car hauling services that deliver shipments of cars and other vehicles across different part of North America. Allied Holdings ran into bankruptcy after which it was put on auction. Jack Cooper Holding acquired it with a bid of $135 million.
4. Radiant Logistics bought On Time Express, Inc.
American logistics service provider Radiant Logistics announced its acquisition of Phoenix-based On Time Express, Inc. (OTE) in 2013. OTE has an extensive network of dedicated line haul structure that provides time-critical delivery of logistics solution to customers in industries such as medical device, aerospace, automotive, and furniture.
We hope this data will give you a brief idea about the scenario of mergers and acquisition in logistics and transportation industry. If you are looking for m&a consulting for transportation and logistics, then get in touch with us today