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Forward Air Reiterates Value Creation Potential of Acquisition of Omni Logistics
Publishes Investor Q&A and Supplemental Presentation GREENEVILLE, Tenn.--(BUSINESS WIRE)-- Forward Air Corporation (NASDAQ: FWRD) (“Forward”) today published
About this update from Forward Air Corporation
[{"type":"text","content":"\nPublishes Investor Q&A and Supplemental Presentation\n\n\n GREENEVILLE, Tenn.--(BUSINESS WIRE)--\nForward Air Corporation (NASDAQ: FWRD) (“Forward”) today published Q&A and a supplementary investor presentation to provide additional information about the previously announced transaction with Omni Logistics (“Omni”). All related materials are available at ir.forwardaircorp.com.\n\n\n“The transformational combination with Omni is the natural next step in our Grow Forward strategy to expand our customer base and will deliver significant long-term value for Forward Air shareholders,” said Tom Schmitt, Chairman, President and Chief Executive Officer of Forward. “This transaction will advance Forward’s category leadership in the expedited LTL market by making high-value, competitively priced freight accessible to more customers. We also expect the combined company to benefit from an enhanced financial profile with significantly increased revenue and growth, supported by meaningful synergies. We look forward to continuing to engage with the investment community to communicate the benefits of this transaction.”\n\n\nThe full contents of the Q&A follow:\n\n\nQ: What is the strategic rationale for this acquisition? How does it further strengthen Forward’s status as an LTL provider of choice?\n\n\nThe combination of Forward and Omni creates a scaled, premier, less-than-truckload (“LTL”) enterprise focused on providing customers with multimodal solutions for complex and high-service freight needs.\n\n\nThe integration of Omni will drive high-margin freight to Forward’s LTL network and provide Forward with direct access to more than 7,000 customers in high-growth, high-value end industries and an increased domestic footprint. Forward will have a broader portfolio of essential logistics services, the majority of which will help drive incremental freight into Forward’s LTL network. Omni’s customer base has significant domestic LTL requirements, and will benefit from Forward’s LTL Precision Execution, which provides customers with the fastest transit times, best on-time performance, and lowest claims rates in the industry.\n\n\nThe acquisition will drive significant cost and revenue synergies, be accretive to Forward’s long-term growth and double its scale on a larger, denser freight network.\n\n\nQ: Why Omni Logistics? What percentage of the...