XPO Logistics Completes Acquisition of NLM for $87M in Cash

XPO Logistics XPO today announced that it has completed its previously announced acquisition of NLM from Landstar System. The company funded the $87 million cash transaction through its ABL facility and available cash, including approximately $13.4 million of cash acquired on closing. A second technology product, A3i, was included in the transaction. Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, "Our acquisition of NLM has given us the attractive entry we sought into managed transportation. In addition, it makes us the largest manager of expedited shipments in North America, a sector where we satisfy some of the most service-sensitive customers on a daily basis. We'll now market our new web-based freight management capabilities to our largest customers, and introduce XPO NLM customers to our full range of services. This transaction - and our recent acquisitions of last-mile leaders 3PD and Optima - reflect our commitment to provide services in the fastest-growing areas of See full press release