Forward Air announces agreement to acquire LTL provider Land Air Express

January 5, 2023

•

An asset-light transportation provider is expanding their less-than-truckload operations.

On Jan. 4, Greenville, Tenn.-based Forward Air Corp., announced an agreement to acquire LTL provider Land Air Express for $56.5 million.

The company says the investment is part of an ongoing growth strategy, which includes “organic infrastructure investments, such as the ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses.”

Bowling Green, Ky.-based Land Air Express has around 270 employees – as well as over 200 company and leased capacity drivers – operating in over 25 terminals across the U.S. The Bowling Green, Ky.-based LTL carrier offers a number of services, including guaranteed, standard, exclusive, same day, hot shot and pickup and delivery. According to data from the Federal Motor Carrier Safety Administration, the company is listed with 302 power units.

Tom Schmitt, chairman, president and CEO of Forward Air, called the acquisition an “important addition” in terms of his company’s LTL growth.

“This acquisition will accelerate the expansion of our national terminal footprint, particularly in the middle part of the United States, and we believe it will strategically position us to better meet the current and future needs of customers,” Schmitt said in a statement. “Land Air Express is a high-performing team that shares our precision-execution DNA and a strong commitment to collaboration with customers. We believe this acquisition will increase our capacity to provide customers with the industry leading on-time and damage-free service they demand.”

Founded in 1981, the company’s service portfolio includes Expedited LTL, LTL, Full Truckload, Intermodal, Final Mile, and Brokerage services.

Forward Air says the transaction is expected to close in January 2023. LL