Blank Rome successfully represented Ryder System, Inc. in its $120 million acquisition of all outstanding equity of MXD Group.
Ryder System, Inc. (NYSE:R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, finalized the acquisition of all outstanding equity of MXD Group (MXD), an e-commerce fulfillment provider with a national network of facilities, including last mile capabilities. With this acquisition—completed on April 2, 2018, at a price of approximately $120 million—Ryder is now the second largest last mile delivery provider of big and bulky goods.
Ryder has acquired 109 MXD e-commerce fulfillment facilities across the U.S. and Canada, including 21 MXD-operated cross dock hubs, 16 dedicated operations, and a network of 72 third-party agent facilities. The acquisition also includes proprietary order management and visibility technology, which features real-time tracking and a customer service portal for rapid response and resolution.
The acquisition, completed on April 2, 2018, is expected to be nominally accretive to earnings in 2018. Ryder anticipates earnings growth in future years to come from introducing these services to its extensive current customer base and leveraging its sales and marketing capabilities to attract new customers.
Ryder System, Inc. provides a continuum of logistics, supply chain, and transportation management solutions worldwide. The company, led by Robert E Sanchez, Timothy R Fiore and Dennis C Cooke, in 2017 recorded $7.329 Billion Revenues.
Blank Rome advised Ryder System, Inc. with a team including Peter Schnur (Picture), Thomas A. Cournoyer, Ari M. Pozez, Joseph M. Doloboff, Jonathan A. Clark, Lisa M. Campisi and Richard Chou.
Involved fees earner: Peter Schnur – Blank Rome LLP; Thomas Cournoyer – Blank Rome LLP; Ari Pozez – Blank Rome LLP; Joseph Doloboff – Blank Rome LLP; Richard Chou – Blank Rome LLP; Jonathan Clark – Blank Rome LLP; Lisa Campisi – Blank Rome LLP;
Law Firms: Blank Rome LLP;
Clients: Ryder System, Inc.;