Financial Advisor
ArcBest
M&A Advisory
Has Acquired
Transaction Details
- ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, has entered into a definitive agreement to acquire MoLo Solutions, LLC (“MoLo”), a Chicago-based truckload freight brokerage.
- Terms of the transaction include a cash payment at closing of $235 million from available funds, subject to post-closing adjustments, and the potential for additional cash consideration based on achievement of Adjusted EBITDA targets for years 2023 through 2025.
- MoLo revenue is projected to be approximately $600 million in 2021.
- Following the transaction, ArcBest expects to be a Top 15 U.S. truckload broker with access to 70,000 carrier partners.
About the company
ArcBest
ArcBest® is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with 14,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse, fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages their full suite of shipping and logistics solutions to meet customers’ critical needs, each and every day. For more information, visit arcb.com.
MoLo
MoLo is a third-party logistics company with a mission to deliver the best experience in transportation. At MoLo, we’re driven to do things the right way. For us, that starts by creating a better environment for logistics professionals, which allows us to provide a better experience for drivers and carriers in our network and offer better service to our customer partners. MoLo’s commitment to our core values impacts everything we do, from caring for our customers to coordinating the carriers who move our freight.
Source: ArcBest Press Release
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