Trucking news and briefs for Wednesday, Nov. 9, 2022:
Forward Air Corporation (CCJ Top 250, No. 57) is set to acquire the assets of Chickasaw Container Services (CCS), a privately held intermodal drayage carrier. The transaction will be funded from cash on hand and is expected to close in November 2022.
CCS, which boasts 67 power units, has been in business for more than 30 years with operating terminals in Mobile, Alabama, and Memphis, Tennessee. In addition to drayage services, CCS also provides container storage and sales at both of its locations.
The acquisition of CCS allows Forward to expand intermodal drayage operations in the Mobile market while bolstering an already strong presence in the Memphis market.
“Our intermodal business has been a key growth area for Forward over the past few years,” said Tom Schmitt, Forward Air President, Chairman and CEO. “Chickasaw Container Services boasts an experienced team and shares our commitment to precision execution. We are excited about this acquisition, as it gives us a second base of operations in Memphis and allows us to expand in the high-value Mobile market simultaneously – making Forward Intermodal a formidable player in that region.”
