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Forward Air Corporation (NASDAQ:FWRD), a high-service-level contractor to the air cargo industry, said on 26 November that its wholly-owned subsidiary Forward Air Inc has entered into an agreement to acquire certain assets of Black Hawk Freight Services Inc.
Forward also said Black Hawk is a privately held provider of transportation services and it generated approximately USD30m in revenue during the year ended 31 December 2006. The transaction is expected to close on or about 3 December 2007 and is subject to the receipt of applicable consents and satisfaction of other customary closing conditions.
No financial details have been disclosed.
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