Freight Forwarding

Following a previous announcement earlier this week, in which key financial terms of a previously-announced deal were amended, Greenville, Tenn.-based asset-light freight and logistics services provider Forward Air said its acquisition of Dallas-based Omni Logistics, an asset-light, high-touch logistics and supply chain services provider owned by Ridgemont Equity Partners, is now official.

Fast-forwarding nearly six months later to this week, it appears that the transaction will now come to fruition, with Forward Air saying that the terms of the agreement have been amended.

Greenville, Tenn.-based asset-light freight and logistics services provider Forward Air served notice that it may not go through with its planned acquisition of Dallas-based Omni Logistics, an asset-light, high-touch logistics and supply chain services provider, which was announced in August and expected to close later this year.

We've compiled a number of features to define current state of global logistics and help shippers understand the breadth of services today’s third-party services companies have to offer.

Greenville, Tenn.-based asset-light freight and logistics services provider Forward Air and Dallas-based Omni Logistics, an asset-light, high-touch logistics and supply chain services provider owned by Ridgemont Equity Partners, announced today they will join forces, with the companies having entered into a definitive agreement to create a combined company through a cash-and-stock transaction.

Echo officials said that Fastmore’s domestic operations are similar to those of Echo’s, with the real benefit of bringing Fastmore into the fold is that it offers up what it called a unique point of entry into an expansive network of expedited brokerage for the international freight forwarding market through various types of equipment, including: cargo vans, straight trucks, and full truckload.

The push by global forwarders toward purely digital, end-to-end transparency is proving to be crucial amid frequent disruptions that are likely to continue through 2023.

Congestion and capacity shortages have been big subjects among forwarders and have resulted in high air, ground and ocean rates. The shortage of capacity has pushed freight rates to historic highs during the last 18 months. Forwarders are banking on technology to build in more agility.

The raise follows years of uninterrupted growth for the company, particularly in the last twelve months, with Flexport’s revenue more than doubling in 2021 as it moved nearly $19 billion in gross merchandise for its clients across 112 countries.

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Despite the high hurdles facing the freight forwarding industry, positive indicators point to continued growth especially for forwarders with the resources, capability, and the culture to adapt.

Agility and the ability to adapt to difficult circumstances remains the No. 1 attribute for freight forwarders—but the pandemic put them to the test. Today, the leading forwarders are investing in technology that not only increases efficiency, but also enhances operations and creates new global solutions.

Bremen, Germany-based global third-party logistics (3PL) services provider Kuehne+Nagel (K+N) said this week it has entered into a binding agreement to acquire Shanghai, China-based freight forwarder Apex International Corporation, in what it said is the biggest acquisition in the company’s history.

The development comes at a time when SEKO is moving forward on its next stage of expansion, focusing on additional acquisitions, technology platform investments, and continued growth in key global regions.

When discussing the current state of freight forwarding, industry analysts say we might as well table the merger and acquisition talk that dominated 2019. This year, it’s all about global resiliency as the pandemic continues to disrupt—and sometimes destroy—the most carefully laid plans.