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Slide #58. XPO Logistics, Inc. — East Coast Air Charter, Inc.
XPO Logistics, Inc. (NYSE:XPO)
East Coast Air Charter, Inc.
XPO Logistics, Inc. (NYSE:XPO) today announced that it has acquired the operating assets of East Coast Air Charter, Inc. (ECAC), a non-asset, third party logistics business specializing in expedited air charter brokerage, with 2012 revenues of approximately $43 million. The cash purchase price was $9.25 million with no assumption of debt, excluding any working capital adjustments. The acquisition is expected to be immediately accretive to earnings.
XPO Logistics is a global provider of supply chain solutions to various companies. Co. has two reporting segments: Transportation and Logistics. Co.'s Transportation segment facilitates the movement of raw materials, parts and finished goods. Co.'s transportation services include truck brokerage, expedite, intermodal, drayage, last mile, less-than-truckload, full truckload, global forwarding and managed transportation. Co.'s Logistics segment services include warehousing, distribution and inventory management, omnichannel and e-commerce fulfillment, reverse logistics, cold chain solutions, packaging and labeling, factory support, aftermarket support and order personalization services.
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Strong Buy (3.53 out of 4)