XPO Logistics Completes Acquisition of 3PD

XPO Logistics, Inc. (NYSE: XPO) has  announced that it has completed its previously announced acquisition of 3PD Holding, Inc. (“3PD”) in a transaction valued at approximately $365 million.

The acquisition is expected to be significantly accretive to earnings. The company financed the acquisition and related fees and expenses with the net proceeds of its recent $220.5 million public offering of common stock, together with cash on hand.

Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, “Our acquisition of 3PD gives us immediate leadership in the heavy goods, last-mile space – an underpenetrated market for logistics with an exciting growth trajectory. We welcome 3PD’s customers, carriers and employees, all of whom will benefit from the combined resources of our larger organization.”

Jacobs continued, “We’re very bullish about the opportunities embedded in each of our five avenues of growth: optimizing our existing operations, cold-starts, acquisitions, our strategic and national accounts program, and now last-mile. We’re right on plan for our long-term goal of creating a world-class 3PL with several billion dollars of revenue and several hundred million dollars of EBITDA.”

Category: General Update