Forward Air and Omni Logistics to Combine in Cash-and-Stock Deal

Forward Air, a leading provider of less-than-truckload and distribution services, is set to merge with Omni Logistics, a well-established company specializing in logistics and supply chain management. This strategic partnership will see both entities contribute their valuable operating assets to a newly formed subsidiary of Forward.

Under the terms of the agreement, Omni shareholders will receive a remarkable $150 million in cash, as well as Forward’s common and preferred stock. Upon the completion of the transaction, they will collectively own approximately 38% of the newly combined company.

This substantial merger has gained approval from the boards of both Forward and Omni and is anticipated to conclude within the second half of this year.

Impactful leadership within the merged entity will be retained, with Tom Schmitt continuing his role as the chairman and chief executive officer of the combined company. Additionally, J.J. Schickel will assume the position of president and join Forward’s esteemed board. Furthermore, upon the transaction’s close, Omni shareholders will have the privilege to designate three additional directors who will also join Forward’s invaluable board.

Tom Schmitt expressed his enthusiasm for this merger, stating that it positions the combined entity to fully capitalize on the potential of its less-than-truckload business.