XPO Logistics Getting $700 Million for Acquisitions
PSP Investments, along with GIC and Ontario Teachers' Pension Plan will invest a total of $700 million.


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.
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.
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

Enhance Fleet Performance with High-Efficiency Auxiliary Power Units
Drive sustainable cost savings while increasing driver comfort during short- and long-haul logistics operations.
Read More →
Is Your Parts Procurement Process Reactive or Proactive?
Ready to revamp your parts procurement process? Learn how now with “Strategic Parts Purchasing: A Process Checklist”
Read More →
What Trucking Events are Happening in 2026?
Looking for trucking-related conventions, expos, and other events? Heavy Duty Trucking has developed this list of national and larger regional trucking shows and events.
Read More →
Truckload Rates Keep Rising as Tight Capacity Fuels Freight Market Recovery
Spot and contract rates continued climbing in May and June, not because freight demand is surging, but because fewer trucks and drivers are available.
Read More →
What Geotab's New AI Connector Means for Fleets
Fleets can now ask their usual AI assistants questions about maintenance, safety, fuel use, and vehicle performance, using their live Geotab data, and take action on the answers without leaving their preferred AI tool.
Read More →
New C.H. Robinson Tool Opens Door to More Predictable Freight
BidBoardX lets carriers search, bid on, and secure committed freight opportunities through a single digital marketplace.
Read More →
New York City's Microhub Project is Delivering Results
Trucking, last-mile delivery companies, and environmental advocates like what they are seeing so far with New York's microhub program.
Read More →
Why Truck Detention Keeps Costing Fleets Time and Money
A 2024 ATRI study found detention affects nearly 40% of truckload stops and costs the industry more than $15 billion annually. Despite the toll on drivers, fleets, and supply chains, the problem remains stubbornly persistent.
Read More →
Time is Running Out to Apply for Exclusive HDT Event
Heavy Duty Trucking Exchange brings fleet managers and suppliers together for the deeper conversations that lead to ideas, partnerships, and solutions. Time is running out to apply for the September event.
Read More →
Amazon Launches Less-Than-Truckload Freight Offering for All Businesses
This launch is the latest addition to Amazon Supply Chain Services, a portfolio of supply chain capabilities from Amazon, including freight, distribution, fulfillment, and parcel shipping.
Read More →

