XPO Logistics Acquires Optima Service Solutions
(Thomson Reuters ONE) -
Expands XPO's last-mile logistics offering
GREENWICH, Conn. - November 15, 2013 - XPO Logistics, Inc. ("XPO Logistics,"
"XPO" or "the company") (NYSE: XPO) today announced that it has acquired Optima
Service Solutions, LLC ("Optima"), a leading non-asset provider of last-mile
logistics services for major retailers and manufacturers in the United States.
The cash purchase price was $26.6 million, excluding any working capital
adjustments, with no assumption of debt. Optima had revenue of $35.7 million and
adjusted EBITDA of $3.7 million, respectively, for the trailing 12 months ended
October 31, 2013. The acquisition is expected to be immediately accretive to
earnings, exclusive of any synergies with the company's existing freight
brokerage business.
Founded in 1997, Optima has generated a 16% compound annual growth rate over the
past five years. The business uses its contractual network of independent
carriers and technicians to facilitate the residential delivery of heavy goods
in every U.S. zip code. Optima's proprietary technology tracks the last-mile
process through order entry, scheduling and service completion.
Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said,
"Optima is a fast-growing, highly scalable leader in its space, and expands the
capabilities of our last-mile division, 3PD. It enhances our ability to provide
a seamless in-home delivery experience for end customers, particularly with
large appliances and electronics. In addition, Optima benefits from the same
powerful tailwind as 3PD: the growing inclination of retailers and manufacturers
to outsource the last-mile logistics of heavy goods. We plan to leverage these
synergies, and integrate Optima's proprietary software with our last-mile
technology. This will create a single, powerful customer service platform that
doesn't exist in the last-mile sector today."
About XPO Logistics, Inc.
XPO Logistics, Inc. (NYSE: XPO) is one of the fastest growing providers of
transportation logistics services in North America: the fourth largest freight
brokerage firm, the largest provider of heavy goods, last-mile logistics, and a
top five expediter, with growing positions in global freight forwarding,
intermodal and less-than-truckload brokerage. The company facilitates more than
18,500 deliveries a day throughout the U.S., Mexico and Canada.
XPO is built to deliver constant growth in capacity and passionate service
through market-facing technologies and 90 locations in the United States and
Canada. The company uses its relationships with more than 23,000 ground, sea and
air carriers to facilitate the transportation of freight for over 9,500
customers in the manufacturing, industrial, retail, commercial, life sciences
and government sectors. www.xpologistics.com
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. 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 expected impact of our acquisitions, including the expected impact
on our results of operations; our ability to raise debt and equity capital; our
ability to attract and retain key employees to execute our growth strategy;
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
acquired companies' largest customers; our ability to successfully integrate
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.
Tavio Headley, +1-203-930-1602
tavio.headley(at)xpologistics.com
Media Contact:
XPO Logistics, Inc.
Brunswick Group
Steve Lipin / Gemma Hart +1-212-333-3810
This announcement is distributed by Thomson Reuters on behalf of
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(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#1743460]
Unternehmensinformation / Kurzprofil:
Datum: 15.11.2013 - 13:00 Uhr
Sprache: Deutsch
News-ID 317159
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contact information:
Town:
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Kategorie:
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"XPO Logistics Acquires Optima Service Solutions"
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