Pages Menu
TwitterRssFacebook
Categories Menu
Universal Logistics Holdings Acquires Fore Transportation

Universal Logistics Holdings Acquires Fore Transportation

Universal Logistics Holdings, Inc., a leading asset-light provider of customized transportation and logistics solutions, announced its acquisition of Fore Transportation, Inc. Based in the Chicagoland suburb of Harvey, Illinois, Fore Transportation offers a full suite of intermodal logistics solutions, including local and regional drayage services, yard services, chassis rental, and repair and maintenance. Fore Transportation operates over 150 trucks and reported total operating revenues of approximately $32.3 million for the year-ended December 31, 2017.

The Chicago-area operations of Fore Transportation include a 28-acre terminal strategically located just north of interstate I-80, and adjacent to the Canadian National Railroad. In addition to serving as the company’s corporate headquarters, the facility provides 24/7 secured trailer and container storage for 1,100 units, cross-docking capabilities, maintenance and repair, and refrigerated-unit fueling services.

The cash purchase price was $34.9 million, subject to customary post-closing adjustments. To fund the acquisition, Universal used available cash and borrowed approximately $31.3 million using its margin credit facility, revolving credit facility and secured real estate financing.

“We are extremely excited to welcome Fore Transportation to the Universal family,” stated Jeff Rogers, Universal’s Chief Executive Officer. “Fore is a strategic acquisition of a well-established brand in the Chicagoland intermodal trucking market. We see a great deal of opportunities to gain market share in this region, as well as offer expanded services to Fore’s already existing blue-chip customer base. We’re off to a great start in 2018, and closing this deal represents a first step in our renewed ambitions to acquire and integrate best-in-class companies.”

More articles to read on this website

  • Sterlite Tech Wins WBA Industry Award 2017Sterlite Tech Wins WBA Industry Award 2017 Sterlite Tech, the global technology leader in smarter digital networks, has won the Wireless Broadband Alliance (WBA) Industry Award 2017 for the successful deployment of India's First Live Smart Services City in Gandhinagar, Gujarat. […]
  • TransForce Acquires SafetyServeTransForce Acquires SafetyServe TransForce, Inc., the leading workforce solutions provider to the transportation industry, has acquired SafetyServe, a software company and a provider of online safety training courses to companies, government agencies, insurance […]
  • Greenskies Purchased By Clean Focus YieldGreenskies Purchased By Clean Focus Yield Greenskies Renewable Energy LLC and its affiliates, have been purchased by Clean Focus Yield Limited and its affiliates, an integrated group of renewable-energy companies with global reach. With this acquisition Clean Focus becomes the […]