Transportation Acquisition News Updates

Diamond State Trucking & Logistics is to buy Morton, Ill.-based flatbed carrier Yordy Transport for an undisclosed sum, parent company PS Logistics said.

TFI International is to buy less-than-truckload carrier Hercules Forwarding Inc. for an undisclosed sum, it said.

Kenan Advantage Group bought Northern Dry Bulk for an undisclosed sum, marking its first major foray into dry bulk haulage, the top-ranked tank transporter said.

Profits at TFI International in the fourth quarter fell 14.4% compared with the same period a year earlier, as acquisitions softened the impact of a weak freight environment.

PS Logistics’ Blair Logistics unit announced it has acquired the flatbed division of Kenly, N.C.-based ELS for an undisclosed sum.

Sunoco LP, a U.S. gas station owner, agreed to acquire pipeline and fuel storage company NuStar Energy LP for about $7.3 billion in a move to buy up more of a key part of its supply chain.

The trucking acquisition market is looking to enter a more active year with market conditions likely to drive buyers and sellers to the table in 2024, according to the Tenney Group.

BWT Logistics is set to acquire Lowell, N.C.-based third-party logistics specialist International Express Trucking for an undisclosed sum.

Hub Group Inc. is set to buy the final-mile unit of Forward Air Corp. for about $262 million in cash, Oak Brook, Ill.-based Hub Group said.

Global building materials firm CRH Plc has offered to purchase Australian concrete maker Adbri Ltd. in a joint takeover proposal with Barro Group, valuing the target business at $1.4 billion.