Ryder System, Inc.’s $120 Million Acquisition of MXD Group
Blank Rome's successful representation of Ryder System, Inc. in its $120 million acquisition of all outstanding equity of MXD Group was featured in Global Legal Chronicle. To learn more about this deal, please click here.
Global Legal Chronicle Excerpt:
Blank Rome successfully represented Ryder System, Inc. in its $120 million acquisition of all outstanding equity of MXD Group.
Ryder System, Inc. (NYSE:R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, finalized the acquisition of all outstanding equity of MXD Group (MXD), an e-commerce fulfillment provider with a national network of facilities, including last mile capabilities. With this acquisition—completed on April 2, 2018, at a price of approximately $120 million—Ryder is now the second largest last mile delivery provider of big and bulky goods.
Ryder has acquired 109 MXD e-commerce fulfillment facilities across the U.S. and Canada, including 21 MXD-operated cross dock hubs, 16 dedicated operations, and a network of 72 third-party agent facilities. The acquisition also includes proprietary order management and visibility technology, which features real-time tracking and a customer service portal for rapid response and resolution.
The acquisition, completed on April 2, 2018, is expected to be nominally accretive to earnings in 2018. Ryder anticipates earnings growth in future years to come from introducing these services to its extensive current customer base and leveraging its sales and marketing capabilities to attract new customers.
To read the full article, please click here.
"Ryder System, Inc.’s $120 Million Acquisition of MXD Group," by Ambrogio Visconti was published in Global Legal Chronicle on April 10, 2018.