Forward Air acquires FSA Logistix
Forward Air Corporation is to acquire nearly all of the assets of FSA Logistix, a privately held final mile provider. The deal will cost some USD 27 million plus an additional contingent consideration based upon future revenue generation.
FSA specializes in last mile logistics for a wide range of US companies, including national retailers, manufacturers, e-tailers, and third party logistics companies. The company currently has management offices in Ft Lauderdale FL and Southlake TX, as well as operations in the USA's East, Midwest, Southwest and West regions.
With respect to this acquisition’s anticipated impact on Forward Air’s operating results, Michael J. Morris, SVP and CFO, said, “FSA is expected to contribute USD 75 million of revenue and ebitda of USD 4.5 million on an annualized basis. FSA will be assigned to the final mile division of Forward's expedited LTL segment.” (mw)