3PD specializes in the handling of heavy goods and last-mile logistics. It focuses on small and mid-sized shippers, matching them up with carriers on a transactional basis. The deal is valued at approximately $365m. XPO said it financed the acquisition with the proceeds of its recent $220.5m public offering of common stock, together with cash on hand. XPO chairman and chief executive officer Bradley Jacobs called the heavy goods and last-mile sector "an under-penetrated market for logistics with an exciting growth trajectory." XPO claims relationships with more than 22,000 ground, sea and air carriers, serving customers in the manufacturing, industrial, retail, commercial, life sciences and government sectors.
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