Mergers News Updates

Mergers and acquisitions are off to their fastest start to a year ever in Canada, driven by a combination of cheap financing for buyers, high valuations for sellers and an improving economic outlook that’s encouraging companies to make major moves.

Xos Inc., a 5-year-old truck maker focused on delivering battery-electric commercial vehicles in Classes 5-8, announced a definitive agreement to go public through a business combination with NextGen Acquisition Corp., a publicly traded special purpose acquisition company based in Boca Raton, Fla.

Several recent acquisitions are signaling a robust 2021 for trucking.

Lightning EMotors, a company that focuses on fleet electrification and cutting out fuel consumption, is in advanced talks to go public through a merger with blank-check firm GigCapital3 Inc., according to people with knowledge of the matter.

Electric Last Mile Solutions, an electric vehicle startup, is in talks to go public through a merger with Forum Merger III Corp., according to people with knowledge of the matter.

The trucking industry has experienced a robust acquisitions market over the past year that shows no signs of stopping.

The merger of GE Transportation, one of the original business units of the General Electric Co., and Westinghouse Air Brake Technologies Corp. is complete as of Feb. 25.

This year’s edition of Transport Topics’ Top 100 Private Carriers list features a disappearing act — more than one, actually — as well as some big mergers in the offing and some new names.

The summer has brought heat to mergers and acquisitions in the logistics sector, led by private equity firm The Jordan Co. moving aggressively to gather several firms under its umbrella.