Forward Air Successfully Completes Acquisition of Omni Logistics
In a significant move, Forward Air Corporation announced the successful completion of its acquisition of Omni Logistics, LLC (“Omni”). This strategic integration positions Forward and Omni as leaders in the expedited Less-Than-Truckload (LTL) market, creating a robust partnership grounded in precision execution.
The combined entity, leveraging a differentiated service offering, an industry-leading team, and an expanded geographic footprint, is poised to deliver high-value freight within its expedited LTL network. The collaboration aligns seamlessly with Forward's 'Grow Forward' strategy, emphasizing long-term value creation for shareholders, customers, employees, and stakeholders.
Tom Schmitt, Chairman and Chief Executive Officer of Forward, expressed enthusiasm about the milestone, stating, “This is an exciting day for Forward, and we are pleased to welcome the Omni team to the Forward family. Together, we are uniquely positioned to be the premier provider of choice in high-quality freight transportation, serving a broader customer base with an expanded domestic footprint.”
Schmitt emphasized Forward's proactive corporate culture, highlighting the commitment to making things happen rather than waiting for them. He assured stakeholders of a clear and measurable plan, designed to meet customer needs, create opportunities for teammates, and generate long-term value for shareholders.
Having engaged in comprehensive integration planning since the announcement of the transaction in August 2023, Forward Air is confident in realizing significant strategic and financial benefits. Anticipated outcomes include substantial revenue and cost synergies, along with operational efficiencies.
Further details on Forward's 'Grow Forward' strategy, including targeted outcomes, management structure, and Board composition, will be unveiled during the Q4 and FY 2023 earnings conference call scheduled for February 2024.