Executive Briefings

XPO Logistics Acquires Optima Service Solutions

XPO Logistics Inc., a provider of transportation and logistics services in North America, has acquired Optima Service Solutions, LLC, a non-asset-based specialist in last-mile logistics for retailers and manufacturers in the U.S.

The purchase price of the deal was $26.6m. Founded in 1997, Optima has realized compound annual growth of 16 percent over the past five years, according to XPO Logistics. It relies on a contracted network of independent carriers and technicians to perform residential delivery of heavy goods in every U.S. ZIP code. Optima's proprietary technology tracks the last-mile process through order entry, scheduling and service completion. XPO Logistics chairman and chief executive officer Bradley Jacobs said the acquisition of Optima "will create a single, powerful customer-service platform that doesn't exist in the last-mile sector today." XPO Logistic operates in 90 locations in the U.S. and Canada.

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The purchase price of the deal was $26.6m. Founded in 1997, Optima has realized compound annual growth of 16 percent over the past five years, according to XPO Logistics. It relies on a contracted network of independent carriers and technicians to perform residential delivery of heavy goods in every U.S. ZIP code. Optima's proprietary technology tracks the last-mile process through order entry, scheduling and service completion. XPO Logistics chairman and chief executive officer Bradley Jacobs said the acquisition of Optima "will create a single, powerful customer-service platform that doesn't exist in the last-mile sector today." XPO Logistic operates in 90 locations in the U.S. and Canada.

Read Full Article