Forward Air (FWRD) Acquires Triumph for $10.1M
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Forward Air Corporation Announces Acquisition of Triumph
August 29, 2016 4:05 PM EDTGREENEVILLE, Tenn.--(BUSINESS WIRE)-- Forward Air Corporation (NASDAQ: FWRD) today announced that its wholly-owned subsidiary, Central States Trucking Co. (CST), has acquired substantially all of the assets of Triumph Transport, Inc. and Triumph Repair Service, Inc. (together referred to as Triumph in this release). Triumph is a privately held provider of intermodal, drayage and related services headquartered in Cudahy, Wisconsin. The purchase price was $10.1 million, and the transaction was funded by Forward Airs cash reserves.
During calendar year 2015, Triumph generated approximately $13.4 million in revenue. Triumph is expected to be accretive to Forward Airs earnings in... More
