M&A
‘A real foothold in the Southeast’: Behnke Dedicated & Logistics buys AG Freight
Behnke Dedicated & Logistics (Battle Creek, Michigan) announced the acquisition of AG Freight (Piedmont, South Carolina), which closed on June 24. Terms were not disclosed. CEO Ben Behnke described the move as giving the company a "true foothold" in the Southeast, with access to the Greenville market and Inland Port Greer. AG Freight provides trucking and brokerage services, with 30 power units and 30 drivers.
RoadOne acquires Higgins Transport Service
RoadOne IntermodaLogistics announced the acquisition of Higgins Transport Service, a Charleston-based agent of Wall Street Intermodal. The deal adds 15 drivers to RoadOne's Charleston operations and bolsters its Southeast growth strategy. Terms were not disclosed.
Trimac acquires California Freight
Trimac Transportation announced the acquisition of California Freight on August 4, which operates 8 terminals, 1 warehousing terminal, and 1 brokerage facility in California and Nevada. This acquisition will complement Trimac's expertise in food-grade transportation, warehousing, and brokerage. Terms of the transaction were not disclosed.
Forward Air sells 2 business units, posts $201M operating loss
Forward Air's quarterly report released on Wednesday showed an operating loss of $201.3 million in the second quarter, primarily dragged down by a $244 million goodwill impairment in its Omni Logistics segment. During the same period, the company completed the sale of two business units for approximately $27 million in total and achieved record quarterly revenue of $673 million.
TFI discusses M&A possibilities in LTL, logistics
In its latest earnings call, TFI International revealed that its M&A targets include non-union LTL operations in the U.S. (approximately $200 million) and automotive logistics company Hearn Industrial Services, similar to last year's acquisition. The company prefers to expand in dense markets such as California, the Carolinas, and Ohio, and has invested $1.8 billion in recent acquisitions.
Canadian National won’t fight UP-NS merger under new deal
Canadian National Railway and Union Pacific announced on July 22 that they had reached a memorandum of understanding, with the former agreeing to no longer oppose the proposed merger of Union Pacific and Norfolk Southern Railway. The agreement is contingent on approval of the merger by the U.S. Surface Transportation Board (STB), and involves Canadian National obtaining access to certain facilities, equity stakes in Kansas City Terminal Railway and Terminal Railroad Association of St. Louis, and operating rights on multiple rail lines. Union Pacific CEO Jim Vena stated that the merger would enhance competition, but BNSF Railway has raised objections.
Andy Transport acquires assets of Transport Express Frontières
Andy Transport, based in Montreal, Canada, announced the acquisition of most of the assets of Transport Express Frontières, with transaction details undisclosed. Andy Transport's President and CEO Andreea Crisan stated that this move stems from years of dialogue and mutual trust, emphasizing sustainable growth and long-term customer partnerships. Express Frontières ceased its transportation operations on June 18, and its drivers will join Andy Transport.
AmeriLux Transportation & Logistics acquires Dedicated Systems
AmeriLux Transportation & Logistics recently announced the completion of its acquisition of Dedicated Systems, with transaction details undisclosed. The acquisition more than doubles AmeriLux Transportation's fleet size and adds specialized, flatbed, and oversize freight capabilities. Meanwhile, the company announced a strategic partnership with Airoldi Brothers, which will relocate its maintenance operations to Dedicated Systems' Green Bay facility. Industry analysts expect merger and acquisition activity in the trucking industry to remain active in 2026.
Cash or stock? TopBuild shareholders can choose ahead of QXO merger deadline
QXO's approximately $17 billion acquisition of TopBuild has entered a critical phase. Shareholders must decide on the consideration method by June 29: $505 per share in cash or 20.2 QXO shares (with a market value of approximately $318.35 as of June 5). Those who do not make a timely choice will automatically receive stock. The transaction is expected to close in Q3 2026.
Amerit Fleet Solutions acquires Pro Reefer
Amerit Fleet Solutions announced the acquisition of Pro Reefer, a Canadian refrigerated trailer maintenance service provider, to expand into the Canadian market and enhance its refrigerated fleet service capabilities. The terms of the transaction were not disclosed. This marks another acquisition for the company since its partnership with New Mountain Capital.