VRC is proud to release its latest industry report. The report provides a concise, insightful update on the Air Freight & Logistics industry including recent transactions, market multiples, company performance and purchase price allocation percentages.

Industry Highlights

• On January 4, 2023, Forward Air announced that it entered into an agreement to acquire the assets of Land Air Express, Inc., a privately held full service expedited LTL provider, for $56.5 million. The transaction is expected to be funded from both cash on hand and the Company’s credit facility. Land Air Express, headquartered in Bowling Green, Kentucky, offers a variety of services, including guaranteed, standard, exclusive, same day, hot shot and pickup and delivery.
• On November 16, 2022, UPS announced the closing on its previously
  announced acquisition of Bomi Group, an industry-leading multi-national
  healthcare logistics provider. Through the acquisition, the company’s
  healthcare unit, UPS Healthcare, will add temperature-controlled facilities
  in 14 countries, and 3,000 highly-skilled employees to the UPS team
  across Europe and Latin America.

Past Industry Updates

Air Freight & Logistics: November 2022

Air Freight & Logistics: August 2022

Air Freight & Logistics: April 2022