Done deals: April 21, 2022

Steve’s Livestock Transport

Steve’s Livestock Transport, a livestock transportation provider headquartered in Blumenort, Manitoba, has acquired a minority ownership position in Runnin’ Red Transport and its subsidiary Emerson Transfer. Runnin’ Red is a U.S.-to-Canada package courier and customs broker operating in Manitoba with locations in Emerson, Letellier and Winnipeg.  It provides transportation and Canada Customs clearance solutions for parcels and LTL shipments between Pembina, North Dakota and Winnipeg and the surrounding area. Runnin’ Red also offers Amazon preparation, shipping solutions and warehousing. Emerson Transfer is a local company operating dry vans, straight trucks and cargo vans between Pembina, North Dakota and Winnipeg, Manitoba and the surrounding areas. Runnin’ Red was founded in 2015 and acquired Emerson Transfer in 2018.

XPO Logistics

XPO Logistics, Inc. has divested its North American intermodal business to STG Logistics, Inc. for cash proceeds of approximately US$710 million.The intermodal unit generated $1.2 billion of  revenue in 2021. The divested operations provide rail brokerage and drayage services; 48 locations and approximately 700 employees have transferred to the buyer in the transaction.

MHS & Fortna

MHS Global and Fortna will combine to form a multinational company providing parcel, warehouse and distribution, and lifecycle services. MHS and Fortna belong to the investment portfolio of Thomas H. Lee Partners, L.P. (THL), a private equity firm investing in middle market growth companies. THL will remain the majority owner of the combined company and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will acquire a significant minority stake to support the combination. Rob McKeel, CEO of Fortna, will become the CEO, and MHS CEO Scott McReynolds will become president of the combined entity.

CoreTrust & GEODIS

CoreTrust, a commercial group purchasing organization (GPO) and a division of HealthTrust, and GEODIS have formed a strategic alliance to provide a full truckload (FTL) managed transportation solution to CoreTrust members. The alliance expands CoreTrust Logistics’s truckload freight offering to include FTL for member organizations using GEODIS’s network of more than 1,000 asset-based carriers, as well as its managed transportation capabilities.