CAMDEN, N.J., Aug. 17, 2020 /PRNewswire-PRWeb/ -- NFI, a
leading supply chain solutions provider, has completed the
acquisition of CAI Logistics, the non-asset logistics division of
CAI International, Inc. ("CAI") (NYSE: CAI) that generates more
than $100 million in annual revenue.
By acquiring CAI Logistics, NFI expands its suite of supply chain
services, specifically enhancing its brokerage, intermodal, and
global freight forwarding capabilities across North America.
With the acquisition, NFI's non-asset logistics business units
will generate in excess of $500
million in annual revenue, making up 20 percent of NFI's
total revenue of approximately $2.5
billion. Additionally, NFI advances its position as a
best-in-class service provider and its expertise in numerous
verticals including the industrial, manufacturing, food, beverage,
and retail industries.
Facilitating more than 300,000 shipments annually, NFI provides
thousands of customers with a wide breadth of multi-modal brokerage
services. The addition of CAI Logistics further bolsters NFI's
specialized capabilities including flatbed, over-dimensional,
less-than-truckload, expedited, and temperature-controlled
transportation.
NFI is an asset and non-asset intermodal provider with
capabilities across North America.
It is an early adopter in the temperature-controlled intermodal
space with a fleet of refrigerated intermodal containers.
Integrating CAI Logistics' rail solutions will extend NFI's access
to more than 100,000 pieces of railroad equipment. Bringing more
than 200 years of combined intermodal operations experience to NFI,
the CAI Logistics and ClearPointt Logistics teams, will
significantly deepen NFI's intermodal expertise.
Spanning Full Container Load, Less Than Container Load,
perishable, and oversized shipments, the acquisition also enhances
NFI's growing ocean and air freight forwarding services that help
shippers better connect their international and domestic supply
chains.
"With CAI Logistics' service offerings, NFI will be able to
amplify the scalability of its non-asset logistics platform," said
Sid Brown, CEO, NFI. "As we have
showcased with our long history of acquisitions, our ability to
combine strong operations is unmatched, resulting in a more robust
customer experience and integrated solutions that are seamless for
shippers and their end consumers."
"Being a part of the NFI family is a tremendous
opportunity for us and for our customers," said Janet Papworth, President, CAI Logistics. "Our common approach to
customer-centricity, combined with NFI's vast expertise and
capabilities, will undoubtedly generate a new level of value we can
provide for shippers."
CAI Logistics represents NFI's 20th acquisition since 2000. BGSA
Holdings LLC acted as exclusive advisor to NFI. Recent acquisitions
also include G&P Trucking, SCR Air, and California Cartage
Company. CAI Logistics and its entities ClearPointt Logistics LLC,
Challenger Overseas, LLC, Hybrid Logistics, Inc., and General
Transportation Services, Inc. will be rebranded NFI.
About NFI
NFI is a fully integrated North American supply chain solutions
provider headquartered in Camden,
N.J. Privately held by the Brown family since its inception
in 1932, NFI generates more than $2
billion in annual revenue and employs more than 13,000
associates. NFI owns facilities globally and operates approximately
50 million square feet of warehouse and distribution space. Its
dedicated fleet consists of over 3,000 tractors and 12,500 trailers
operated by 2,700 company drivers and leveraging partnerships with
400 owner operators. NFI has a significant drayage presence at
nearly every major U.S. port, leveraging the services of an
additional 1,500 owner operators. The company's business lines
include dedicated transportation, distribution, brokerage,
transportation management, port drayage, intermodal, global
logistics, and real estate. For more information about NFI, visit
http://www.nfiindustries.com or call 1-877-NFI-3777.
About CAI International, Inc.
CAI is one of the world's leading transportation finance companies.
As of June 30, 2020, CAI owns and
leases a fleet of over 1 million intermodal shipping containers to
all the major global marine shipping companies.
About BGSA
BGSA Holdings LLC is a leading M&A advisory firm focused on the
logistics and supply chain industry. The firm specializes in
helping outstanding transportation and logistics companies to
maximize value through mergers and acquisitions. BGSA has worked
with major supply chain companies including NFI, UPS, DHL, Echo
Global Logistics, New Breed (now XPO), GENCO (now FedEx), Converge
(now Arrow Electronics), Wilpak (now Jacobson), and others. BGSA is
also affiliated with Cambridge Capital, a leading private equity
firm investing in supply chain and technology companies. For more
information, please visit http://www.BGSA.com.
SOURCE NFi