Hub Group, Inc. | Stephens

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Financial Advisor

Hub Group, Inc.

$260 Million 12/19/2023 Diversified Industrials & Services Complete
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Transaction Details

  • On December 20, 2023, Hub Group, Inc. (NASDAQ: HUBG) announced the acquisition of Forward Air Corporation’s (NASDAQ: FWRD) Final Mile Division.
  • FAFM provides residential final mile delivery and installation of big & bulky goods, with a focus on appliances.
    • Through a network of independent service providers and 46 company-operated facilities, FAFM has delivery coverage throughout the continental US
  • FAFM adds significant appliance delivery and installation capability to Hub Group’s Final Mile offering, enabling growth through cross-selling to Hub Group’s customer base.
  • The acquisition - the largest non-asset transaction in Hub Group’s history - also advances Hub Group’s strategy of pursuing acquisitions that expand its comprehensive service offering.
  • For the last twelve months ended September 30, 2023, FAFM generated revenue of $289 million. The transaction is expected to be immediately accretive to Hub Group’s 2024 GAAP and cash EPS.

About the company

Hub Group, Inc.
Hub Group offers comprehensive transportation and logistics management solutions. Keeping our customers’ needs in focus, Hub Group designs, continually optimizes, and applies industry-leading technology to our customers’ supply chains for better service, greater efficiency, and total visibility. As an award-winning, publicly traded company (Nasdaq: HUBG) with over $4 billion in revenue, our nearly 6,000 employees and drivers across the globe are always in pursuit of “The Way Ahead” – a commitment to service, integrity and innovation. For more information, visit

Sources: Company Press Release.
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