Forward Air Corp. acquired the assets of Atlantic Trucking Co. on May 18, finalizing a deal just more than one month after it was first announced.
The purchase expands Forward Air’s intermodal trucking footprint in the Southeast, particularly in South Carolina, where Atlantic Trucking and its affiliates, such as Central States Trucking Co., were located.
Atlantic earned $62.3 million in revenue last year and posted earnings before interest, tax, depreciation and amortization of $5.1 million. It has terminals in Atlanta; Charlotte, N.C.; Houston; Jacksonville, Fla.; Memphis, Tenn.; Nashville, Tenn.; Norfolk, Va.; and Savannah, Ga.
A purchase price has not been released, nor has the company filed a statement with the Securities and Exchange Commission, but the terms likely will be announced when the company releases second-quarter earnings in July.
Forward Air ranks No. 35 on the Transport Topics Top 100 list of largest for-hire carriers in the United States and Canada, and Central States Trucking ranks No. 12 on TT’s list of top intermodal/drayage carriers.
| By Transport Topics |
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