STG Logistics, Inc acquired Intermodal Business of XPS Logistics in North America for approximately $710 million.
March 25, 2022
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STG Logistics, Inc acquired Intermodal Business of XPS Logistics in North America for approximately $710 million on March 25, 2022. The consideration was paid through cash and was subject to closing purchase price adjustments. Paul Smith, formerly President of XPO's intermodal division, will lead STG's intermodal operations as EVP of STG and COO of STG Intermodal. Approximately 700 employees have transferred to the buyer in the transaction. The intermodal unit, which XPO reported as part of its Brokerage and Other Services segment, generated $1.2 billion of revenue in 2021. Financing for the transaction was led by Antares Capital and included Deutsche Bank Direct Lending, Stifel, Citizens, and MUFG. Raymond James & Associates, Inc. served as financial advisor to XPO for the transaction, and Wachtell, Lipton, Rosen & Katz served as legal advisor to XPO. Deutsche Bank Securities Inc. acted as financial adviser and McCarter & English acted as legal advisor to STG. Harris Williams & Co. Ltd. acted as a financial advisor to STG Logistics, Inc. Jeremy S. Liss, Hamed Meshki, Paul W. Anderson, Karen E. Flanagan, Steve Toth, Melanie Harmon, David M. Nemecek, Katie Taylor, Christian Semonsen, Rory M. Wellever, Rachel Cantor, Christine Lehman, Joshua Faulkner, Evangelia Podaras, Jeffrey S. Quinn, J. Robert Fowler, Mario Mancuso, Lucille Hague, Carla A.R. Hine, Mike Robert-Smith of Kirkland & Ellis LLP acted as legal advisor to STG Logistics, Inc.
STG Logistics, Inc completed the acquisition of Intermodal Business of XPS Logistics in North America on March 25, 2022.
XPO, Inc. is a provider of freight transportation services. The Company moves goods through its customers supply chains in North America and Europe. It operates through two segments: North American Less-Than-Truckload (LTL), and European Transportation. The North American LTL segment provides shippers with geographic density and day-definite domestic and cross-border services to the United States (U.S.), as well as Mexico, Canada, and the Caribbean. It also includes trailer manufacturing operations. The European Transportation segment offers a range of services, such as truckload, LTL, truck brokerage, managed transportation, last mile, freight forwarding and multimodal solutions, including road-rail and road-short sea combinations. It serves a base of customers in consumer, trade, and industrial markets. The Company offers XPO Connect, a cloud-based digital platform for transportation procurement that encompasses a freight optimizer system, shipper interface and carrier interface.
XPO, INC. 
