Industry Update: Air Freight & Logistics
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.
- On February 22, 2021, Kuehne + Nagel International AG agreed to acquire Apex International Corp. in a deal that values the freight forwarder at about $1.5 billion, according to people familiar with the matter. Kuehne + Nagel is going to buy a majority stake in Apex Logistics from North Asia-focused private equity firm MBK Partners, which invested in the company in 2015.
- On January 25, 2021, UPS entered into a definitive agreement to sell UPS Freight less-than-truckload unit to TFI International Inc. for $800 million, subject to working capital and other adjustments. TFI International Inc., a
Canadian holding company that is parent to CFI, will rebrand the acquired unit as “TForce Freight.”
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