On Wednesday, the Forward Air Corporation announced the acquisition of a Bowling Green, Kentucky-based carrier.
Forward Air has acquired the assets of privately held full service expedited LTL provider Land Air Express for $56.5 million, according to an announcement issued on Wednesday afternoon.
The transaction is expected to close in January 2023.
Land Air Express currently has approximately 270 employees and over 200 drivers (including company and leased capacity providers) and operates over 300 trucks out of more than 25 terminals across the U.S.
Tom Schmitt, Chairman, President and CEO of Forward stated, “Our core LTL business is the key growth area for Forward and the purchase of Land Air Express is an important addition to our LTL growth opportunities. This acquisition will accelerate the expansion of our national terminal footprint, particularly in the middle part of the United States, and we believe it will strategically position us to better meet the current and future needs of customers. Land Air Express is a high-performing team that shares our precision execution DNA and a strong commitment to collaboration with customers. We believe this acquisition will increase our capacity to provide customers with the industry leading on-time and damage-free service they demand. We are thrilled to welcome Land Air Express into the Forward family.”