Forward Air Corporation has successfully concluded the acquisition of Omni Logistics, LLC, marking a significant milestone in the company’s strategic growth. This strategic move is set to establish Forward and Omni as leaders in the expedited Less-Than-Truckload (LTL) market, emphasizing precision execution.
The amalgamation of Forward and Omni leverages their respective strengths, including a distinctive service offering, a top-tier team, and an expanded geographical footprint. The resulting synergy positions the combined entity to offer high-value freight within its expedited LTL network, setting the stage for the realization of Forward’s ‘Grow Forward’ strategy. This strategic initiative aims to deliver sustained value to shareholders, customers, employees, and other stakeholders over the long term.
Since the announcement of the transaction in August 2023, Forward Air has actively engaged in comprehensive integration planning. The company expresses confidence in its ability to unlock substantial strategic and financial benefits from the acquisition, such as significant revenue and cost synergies, along with operational efficiencies.
Tom Schmitt, Chairman and Chief Executive Officer of Forward, expressed enthusiasm about the successful completion of the acquisition. He stated, “This is an exciting day for Forward, and we are pleased to welcome the Omni team to the Forward family. Together, we are now uniquely positioned to be the premier provider of choice in high-quality freight transportation to a larger customer base with an expanded domestic footprint.”
Schmitt emphasized the proactive nature of Forward’s corporate culture, stating, “One of the defining characteristics of our corporate culture is that we do not wait around for good things to happen; we go out and make them happen. We are approaching this important next phase with a sense of urgency and are committed to delivering on a clear and measurable plan designed to meet the needs of our customers, create opportunities for our teammates, and generate long-term value for our shareholders.”
Looking ahead, Forward is poised to unveil more details about its Grow Forward strategy, providing insights into targeted outcomes, management structure, and Board composition during its Q4 and FY 2023 earnings conference call scheduled for February 2024. This forthcoming information will shed light on the company’s roadmap for sustained growth and value creation in the dynamic freight transportation industry.
About Forward Air
Forward Air is a leading asset-light provider of transportation services across the United States, Canada and Mexico. We provide expedited less-than-truckload services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals. In addition, we offer truckload brokerage services, including dedicated fleet services; and intermodal, first-and last-mile, high-value drayage services, both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services. We are more than a transportation company. Forward is a single resource for your shipping needs. For more information, visit our website at www.forwardaircorp.com.