Forward Air Acquires J&P Hall Express, Expanding Regional LTL Door-to-Door Service
April 28 2021 - 4:13PM
Business Wire
Forward Air Corporation (NASDAQ: FWRD) (the “Company” or
“Forward”) is executing a growth strategy that involves organic
infrastructure investments, such as its ongoing LTL network
expansion, as well as inorganic investments, including acquisitions
of complementary businesses. As part of the inorganic growth
strategy, Forward today announced that it has entered into an
agreement to acquire the assets of J&P Hall Express. J&P
Hall Express is a privately held expedited transportation provider
that generates approximately $15.8 million in annual revenue. The
acquisition is expected to close in May 2021.
Headquartered in Atlanta, GA with a second terminal in Albany,
GA, J&P Hall Express has been in business since 1989. Since
then, the company has grown to offer a portfolio of transportation
services including LTL, Full Truckload, LCL, CFS warehousing, and
airport transfers across the Southeastern United States. J&P
Hall Express operates with approximately 70 trucks and 110 total
employees.
This acquisition increases Forward’s footprint in Atlanta and
adds a new location in Albany, expanding the Company’s LTL
operations in the region.
Tom Schmitt, President, Chairman and CEO stated, “J&P Hall
Express offers a great range of regional freight services. They are
first class at what they do. We know them as a top-notch competitor
– a great fit with our Precision Execution DNA. This acquisition
supports our LTL network expansion strategy, while allowing us to
grow our pick-up and delivery service throughout southern Georgia
and the northern Florida markets. We are thrilled to bring J&P
Hall Express into the Forward family.”
About Forward Air Corporation
Forward Air Corporation (NASDAQ: FWRD) is a leading asset-light
freight and logistics company. We provide LTL, final mile,
truckload, intermodal drayage and pool distribution services across
the United States and in Canada. Headquartered in Greeneville,
Tennessee, Forward operates approximately 200 facilities across the
country and employs more than 5,200 people nationwide. We are more
than a transportation company. As a single resource for your
shipping needs, Forward is your supply chain partner. For more
information, visit our website at www.forwardaircorp.com.
This press release may contain statements that might be
considered as forward-looking statements or predictions of future
operations including with respect to the expected funding and
timing of closing of the J&P Hall Express acquisition, growth
of the Company’s LTL business and strategic enhancements to the
Company’s LTL business. Such statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and are based on management’s belief or interpretation
of information currently available. These statements and
assumptions involve certain risks and uncertainties including that
the conditions to closing are not met and the closing is delayed or
never occurs, that the performance of the J&P Hall Express
business post-closing is worse than anticipated and that the
Company is not able to achieve the planned synergies. Actual events
may also differ from these expectations as a result of the risks
identified from time to time in our filings with the Securities and
Exchange Commission. You should consider the forward-looking
statement contained herein in light of such risks. We assume no
duty to update these statements as of any future date.
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version on businesswire.com: https://www.businesswire.com/news/home/20210428006107/en/
Justin Moss jmoss@forwardair.com 404-362-2472
Forward Air (NASDAQ:FWRD)
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