The agreement closes in January. The agreement will not include LSHI’s California operations. LSHI is a last-mile logistics provider headquartered in Cedar Rapids, Iowa, operating primarily in the Midwest and Southwest.
Forward Air CFO Michael Morris said the company expects acquiring LSHI will generate approximately $90 million of revenue and $8.3 million of EBITDA on an annualized basis. LSHI will be a part of Forward Air’s final mile division of the Expedited LTL segment.