Express-1 Gets $150 Million Buyout Offer



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 Updated:
6/17/2011 9:30:00 AM

An investor announced plans this week to take control of Express-1 Expedited Solutions, in order to expand the brokerage and forwarding business.

 

Bradley Jacobs, an investor who previously backed waste management and equipment rental companies, said he plans to invest up to $135 million, along with $15 million from co-investors.

 

“I plan to build a multi-billion dollar transportation brokerage business over the next several years,� Jacobs said in a statement. “Express-1 is an ideal platform, with prominent positions in expedited services, freight brokerage and freight forwarding.�

 

Express-1 Expedited Solutions is a non-asset based transportation company that operates through its three logistics units.



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