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Ascent Global Logistics is set to be acquired by H.I.G.Capital
New York-based global alternative investment firm H.I.G. Capital said yesterday that one of its affiliates inked a definitive agreement to acquire Belleville, Michigan-based Ascent Global Logistics, a provider of technology-enabled, expedited logistics and supply chain solution services, from affiliates controlled by Elliott Investment Management L.P.

Redwood Logistics announces its acquisition of Rockfarm Supply Chain Solutions
Chicago-based 4PL and logistics platform services provider Redwood Logistics said this week it has acquired Dubuque, IA-based Rockfarm Supply Chain Solutions and Global Distribution and Logistics, a tech-enabled transportation logistics company, focusing on flexible, customer-driven service. A purchase price was not disclosed, but Redwood officials said that with Rockfarm in the fold that Redwood now represents a combined $5.5 billion in total platform freight under management between its 3PL and 4PL services.

Knight-Swift’s acquisition of U.S. Xpress is made official
Following its March announcement in which Phoenix-based Knight-Swift Transportation, the largest player in the truckload market, with $4.5 billion in 2022 revenue, said it was acquiring Chattanooga, Tenn.-based U.S. Xpress, which ranked ninth in TL revenue last year at $2.2 billion, Knight-Swift said today that the transaction is now a done deal.

GEODIS expands drayage presence with acquisition of Southern Companies
A purchase price for the transaction was not disclosed. Southern Companies provides various import and export services, including warehousing and trucking, to ensure customer goods are moving swiftly through the supply chain.

Flexport announces acquisition of Shopify Logistics
In a move geared towards expanding its global services into last mile and e-commerce fulfillment, San Francisco-based freight forwarding and customs brokerage services provider Flexport announced today it has acquired the assets of Shopify Logistics, a subsidiary of a multi-channel commerce platform, Shopify, including Deliverr, a fulfillment technology services provider, which Shopify acquired for $2.1 billion in 2022.

DSV announces acquisitions of S&M Moving Systems West and Global Diversity Logistics
DSV said that the objective of these acquisitions are three-fold: to augment its position within the semiconductor industry; align with its new Phoenix-Mesa Gateway Airport operations; and support its growing cross-border services into Latin America. It added that these acquisitions are expected to be made official next month.

Biggest gets bigger: Knight-Swift buying USX for $808 million in huge TL deal
Phoenix-based Knight-Swift Transportation, already the biggest player in the TL market at $4.5 billion revenue last year, is buying Chattanooga, Tenn.-based U.S. Xpress, which ranked ninth in TL revenue last year at $2.2 billion. The deal is valued at $808 million, including assumption of $484 million of debt.

Descartes announces acquisition of Minneapolis-based GroundCloud
Waterloo, Ontario-based Descartes, a provider of logistics based on-demand, software-as-a-service offerings, is expanding its final-mile services portfolio, announcing this week it has acquired Minneapolis-based GroundCloud, a cloud-based provider of final-mile carrier solutions and road safety compliance tools. The purchase price was $138 million, according to Descartes.

Trimble acquires Transporean in major deal, for nearly $2 billion
The purchase price was around $1.99 billion (USD), and it is expected to be made official in the first half of 2023, with Trimble acquiring Transporean from software and services investor and Transporean’s majority shareholder, Hg.

UPS’s acquisition of Bomi Group is a done deal
This acquisition adds significant scale to the company’s UPS Healthcare unit, with temperature-controlled facilities in 14 countries, as well as 3,000 new employees throughout Europe and Latin America.

Forward Air announces acquisition of Chicksaw Container Services
Forward Air Corporation recently announced that it has entered into an agreement to acquire the assets of Chickasaw Container Services, Inc. (“CCS”), a privately held intermodal drayage provider. The transaction will be funded from cash on hand and is expected to close in November 2022.

Ascend LLC acquires Fuchs Trucking
Established in 1955, Fuchs Trucking initially hauled livestock and forest products, subsequently moving to serving building materials and furniture sectors by offering dedicated capacity with specialized dry van configurations.

Echo Global Logistics announces acquisition of Fastmore Logistics
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.

GEODIS announces acquisition of Need It Now Delivers is a done deal
GEODIS officials said that Need It Now Delivers operates as an expansive domestic road freight network with over 65 company locations and 300 distribution points, providing strong national coverage, particularly in the eastern U.S. The acquisition significantly expands GEODIS’s U.S. presence in the areas of contract logistics and final mile delivery and strengthens its end-to-end freight network domestically and internationally.

Prologis acquisition of Duke Realty is a done deal
Under the terms of the deal, the all-stock transaction, which Prologis said is valued at approximately $23 billion and was approved by Prologis and Duke shareholders, includes the assumption of debt, with the company adding it “expands Prologis’ presence in key U.S. markets.


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