XPO Logistics Completes Acquisition of 3PD
(Thomson Reuters ONE) -
Gains immediate leadership in heavy goods, last-mile logistics
Accelerates financial and operational growth
GREENWICH, Conn. - August 16, 2013 - XPO Logistics, Inc. (NYSE: XPO) ("XPO" or
the "company") today 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."
About 3PD
3PD, founded in 2001, is the premier provider of heavy goods, last-mile
logistics in North America. 3PD provides blue chip retailers with customized
solutions tailored to their supply chain needs, and serves small and mid-sized
shippers by matching them to carriers on a transactional basis. The business has
differentiated itself through its ability to assure a superb customer experience
using proprietary technology and industry-leading process management.
Advisors
Credit Suisse Group served as financial advisor to the board of directors of XPO
Logistics, and Morgan Stanley & Co. LLC served as financial advisor to the board
of directors of 3PD.
About XPO Logistics, Inc.
XPO Logistics, Inc. (NYSE: XPO) is one of the fastest growing providers of
transportation logistics services in North America, offering freight brokerage,
last-mile logistics, expedited transportation and freight forwarding services.
The company uses its relationships with more than 22,000 ground, sea and air
carriers to serve over 8,600 customers in the manufacturing, industrial, retail,
commercial, life sciences and government sectors. XPO is built to deliver
constant growth in truck capacity, passionate service and technological
innovation through 89 locations in the United States and Canada.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including the Company's future
revenue and EBITDA expectations, the expected impact of the 3PD acquisition and
the expected growth of the last-mile delivery logistics market. All statements
other than statements of historical fact are, or may be deemed to be, forward-
looking statements. In some cases, forward-looking statements can be identified
by the use of forward-looking terms such as "anticipate," "estimate," "believe,"
"continue," "could," "intend," "may," "plan," "potential," "predict," "should,"
"will," "expect," "objective," "projection," "forecast," "goal," "guidance,"
"outlook," "effort," "target" or the negative of these terms or other comparable
terms. However, the absence of these words does not mean that the statements are
not forward-looking. These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and our
perception of historical trends, current conditions and expected future
developments, as well as other factors we believe are appropriate in the
circumstances.
These forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions that may cause actual results, levels of activity,
performance or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or implied by such
forward-looking statements. Factors that might cause or contribute to a material
difference include, but are not limited to, those discussed in our filings with
the SEC and the following: economic conditions generally; competition; our
ability to find suitable acquisition candidates and execute our acquisition
strategy; the impact of the 3PD acquisition; our ability to raise debt and
equity capital; our ability to attract and retain key employees to execute our
growth strategy, including retention of 3PD's management team; litigation,
including litigation related to misclassification of independent contractors;
our ability to develop and implement a suitable information technology system;
our ability to maintain positive relationships with our network of third-party
transportation providers; our ability to retain our and 3PD's largest customers;
our ability to successfully integrate 3PD and other acquired businesses; and
governmental regulation. All forward-looking statements set forth in this press
release are qualified by these cautionary statements and there can be no
assurance that the actual results or developments anticipated by us will be
realized or, even if substantially realized, that they will have the expected
consequences to or effects on us or our business or operations. Forward-looking
statements set forth in this press release speak only as of the date hereof and
we do not undertake any obligation to update forward-looking statements to
reflect subsequent events or circumstances, changes in expectations or the
occurrence of unanticipated events except to the extent required by law.
Investor Contact:
XPO Logistics, Inc.
Dana Gibson, +1-203-930-1470
dana.gibson(at)xpologistics.com
Media Contact:
Brunswick Group
Steve Lipin / Gemma Hart, +1-212-333-3810
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: XPO Logistics, Inc. via Thomson Reuters ONE
[HUG#1723400]
Unternehmensinformation / Kurzprofil:
Datum: 16.08.2013 - 14:00 Uhr
Sprache: Deutsch
News-ID 288519
Anzahl Zeichen: 7357
contact information:
Town:
Greenwich
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 174 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"XPO Logistics Completes Acquisition of 3PD"
steht unter der journalistisch-redaktionellen Verantwortung von
XPO Logistics, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
