Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

XPO Logistics Getting $700 Million for Acquisitions

PSP Investments, along with GIC and Ontario Teachers' Pension Plan will invest a total of $700 million.

by Staff
September 15, 2014
XPO Logistics Getting $700 Million for Acquisitions

 

2 min to read


Freight transportation services provider XPO Logistics reached an agreement earlier this month where it will receive a total of $700 million to use for unspecified acquisitions.

PSP Investments, along with GIC and Ontario Teachers' Pension Plan will invest a total of $700 million.

Ad Loading...

The transaction, expected to settle on September 17, provides for the sale of newly issued common stock and preferred stock to the investors. Upon approval by the company's shareholders, the preferred stock will be converted into common stock and the investors will hold approximately 22% of XPO's common stock.

XPO said in light of this transaction and the expected acceleration of its growth plans, it has raised its 2017 financial targets to approximately $9 billion of revenue and $575 million of earnings before interest, taxes, depreciation and amortization, up from previous targets of $7.5 billion and $425 million, respectively.

The Connecticut-based XPO Logistics provides freight brokerage, expedited transportation and freight forwarding services.

Ad Loading...

The Public Sector Pension Investment Board, also known as PSP Investments, manages the pension funds of the Canada’s public service workers, the Canadian Forces and the Royal Canadian Mounted Police,

GIC manages Singapore’s foreign reserves and has investments in over 40 countries.

The Ontario Teachers' Pension Plan administers pensions of 307,000 active and retired teachers in Ontario, Canada.

In July XPO reported it lost nearly $14 million dollars during the second quarter of the year, down from more than $17 million a year earlier, while it also announced its most recent purchase in a string of recent acquisitions.

More Fleet Management

Phillips Connect extends Nussbaum trailer life.

How Phillips Connect Helped Nussbaum Transportation Double its Trailer Life

Seven years into deploying Phillips Connect’s smart trailer platform, Nussbaum Transportation has extended trailer life from 10 to 15 years.

Read More →
Lance Evans, Director of Safety at K&B Transportation.

Inside Modern Fleet Safety: AI, Cameras & Speed Control at K&B Transportation

How a former commercial vehicle enforcement officer turned director of safety at K&B Transportation is embracing real-world safety technology.

Read More →
TEN disaster prep.
Fleet ManagementMay 1, 2026

How Fleets Can Avoid Equipment Blind Spots in Disaster Response

When the unexpected happens, how you react to, and deal with operational blind spots is critical. Here’s how to keep you recovery on track, when nothing is normal.

Read More →
Ad Loading...
Illustration of cybersecurity images with "The Cyber Stop" text
Fleet Managementby Ben WilkensApril 30, 2026

AI Security Risks for Trucking Fleets: What to Know About Deepfakes and Agentic AI

As fleets adopt artificial intelligence for routing, maintenance, and load matching, new security risks are emerging. Learn where the vulnerabilities are and how to put the right controls in place.

Read More →
Mobile tablet showing Motus screen against highway background with Motus logo

FMCSA’s Motus System Is Coming. What Fleets Need to Know Now

The long-awaited registration system promises a single portal — and tighter fraud controls.

Read More →
CargoNet 2026 Qi report.
Fleet Managementby News/Media ReleaseApril 24, 2026

Cargo Theft Incidents Fall in Q1, but Organized Crime and Impersonation Drive New Risks

CargoNet reports fewer supply chain crime events to start 2026. But losses hold steady as organized crime shifts tactics toward impersonation schemes and high-value goods.

Read More →
Ad Loading...
Graphic with light bulbs, HDT Truck Fleet Innovators logo, and the word Nominations
Fleet ManagementApril 24, 2026

Nominations Open for HDT Truck Fleet Innovators 2026

Heavy Duty Trucking is searching for forward-looking leaders at trucking fleets as nominations for HDT’s Truck Fleet Innovators 2026. Deadline is May 15.

Read More →
Illustration with trojan horse and lock with inside of cargo container in background
Fleet Managementby News/Media ReleaseApril 23, 2026

New Trojan Driver Cargo Theft Scam Bypasses Carrier Vetting Systems

Cargo theft rings plant operatives as drivers inside legitimate, fully vetted carriers, then execute coordinated thefts that look like a traditional straight theft from the outside.

Read More →
ATA Truck Tonnage Index March 2026.
Fleet Managementby News/Media ReleaseApril 22, 2026

March Truck Tonnage Posts Strongest Annual Gain Since 2022

A modest sequential increase capped the strongest quarterly performance in years, signaling continued freight momentum in early 2026.

Read More →
Ad Loading...
Toll road.
Fleet Managementby Jack RobertsApril 22, 2026

Ohio Turnpike Targets $5.2 Million in Unpaid Tolls from Trucking Firms

More than 300 carriers across 26 states have been sent to collections as the Ohio Turnpike cracks down on toll evasion and delinquent payments.

Read More →