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New Deal


Announced

Completed

Ryder completed the acquisition of Cardinal Logistics from HIG Capital.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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logistics solutions

United States

Third Party Logistics (3PL)

Private

Acquisition

Domestic

Majority

Friendly

Completed

Single Bidder

transportation services

Private Equity

Synopsis

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Ryder, a provider of supply chain, dedicated transportation, and fleet management solutions, completed the acquisition of Cardinal Logistics, a logistics provider offering fleet outsourcing, transportation management, last-mile services and integrated transportation IT solutions, from HIG Capital, a private equity firm. Financial terms were not disclosed. “We’ve come full circle, back to where we started, and that was purposeful. We chose Ryder to continue our legacy because of the company culture. We experienced firsthand Ryder’s people-first, customer-centric culture, and that had an impact on us as we built our own company,” Tom Hostetler, Cardinal CEO.

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