Forward Air Corporation has announced that it has entered into an agreement to acquire substantially all of the assets of FSA Logistix (“FSA”), a privately held final mile provider for cash consideration of $27 million plus additional contingent consideration based upon future revenue generation. The closing of the transaction is subject to customary closing conditions, including but not limited to, compliance with the covenants and agreements in the definitive agreement. It is anticipated that the transaction will be funded from cash on hand and will close in April 2019.
FSA specializes in last mile logistics for a wide range of American companies, including national retailers, manufacturers, eTailers, and third party logistics companies. FSA currently has management offices in Ft. Lauderdale, FL and Southlake, TX and has operations in the East, Midwest, Southwest and West regions.