Fleet Management

XPO Logistics Completes Purchase of Pacer International

April 01, 2014

SHARING TOOLS        | Print Subscribe

Brokerage and logistics firm XPO Logistics has completed its previously announced acquisition of intermodal and drayage provider Pacer International in a cash and stock transaction valued at approximately $335 million.

The transaction makes XPO Logistics the third largest provider of intermodal services in North America and the largest cross-border Mexico provider, according to the company.

The Connecticut-based XPO financed the cash portion of the acquisition through a combination of cash on hand and a portion of the net proceeds of its recent $414 million public offering of common stock.

Daniel Avramovich, former chief executive officer of the Ohio-based Pacer, has assumed new responsibilities as XPO's senior vice president of strategic development. He will help to align the company's national and multi-national customers with an expanding base of capacity providers, including major rail relationships, and will serve on the company's acquisition team. He reports directly to XPO Logistics CEO Bradley Jacobs.

Comments

  1. 1. Bradley [ April 14, 2014 @ 02:39AM ]

    nice to see logistics control like that.

 

Comment On This Story

Name:  
Email:  
Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

Newsletter

We offer e-newsletters that deliver targeted news and information for the entire fleet industry.



GotQuestions?

LUBRICANTS

The expert, Mark Betner from Citgo will answer your questions
Ask a question

Sponsored by

Magazine