Universal Logistics purchases Fore Transportation

Warren, Mich.-based Universal Logistics Holdings, Inc. acquired Fore Transportation for $34.9 million, subject to customary post-closing adjustments.    Warren, Mich.-based Universal Logistics Holdings, Inc., an asset-light provider of transportation and logistics solutions in the U.S., Mexico, Canada and Colombia, has acquired Fore Transportation, Inc.
   The purchase price totaled $34.9 million, subject to customary post-closing adjustments, Universal Logistics said Friday.
   Fore Transportation is based in the Chicagoland suburb of Harvey, Ill. The company, which operates over 150 trucks, offers various intermodal logistics solutions, including local and regional drayage services, yard services, chassis rental, and repair and maintenance.
   The Chicago-area operations of Fore Transportation includes a 28-acre terminal, located just north of I-80 and adjacent to the Canadian National Railroad. In addition to serving as the company’s corporate headquarters, the facility features 24/7 secured trailer and container storage for 1,100 units, crock-docking capabilities, maintenance and repair, and refrigerated-unit fueling services.
   Universal Logistics said it expects the acquisition to be immediately accretive. The company used available cash and borrowed approximately $31.3 million using its margin credit facility, revolving credit facility and secured real estate financing to fund the acquisition.
   Chicago-based Mesirow Financial, Inc. served as the financial advisor to Fore Transportation.