As part of its growth strategy, Forward Air Corp. plans to expand its less-than-truckload network with the asset acquisition of Land Air Express, a privately held full service expedited LTL provider, for $56.5 million.
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. With approximately 270 employees and over 200 drivers (including company and leased capacity providers), Land Air Express operates in over 25 terminals across the United States.
“This acquisition will accelerate the expansion of our national terminal footprint, particularly in the middle part of the United States, and we believe it will strategically position us to better meet the current and future needs of customers,” said Tom Schmitt, chairman, president and CEO of Forward, in a press release.
The transaction is expected is expected to close this month.