NFI, a leading supply chain solutions provider, has completed the acquisition of CAI Logistics, the non-asset logistics division of CAI International, Inc. (“CAI”) (NYSE: CAI) that generates more than $100 million in annual revenue. By acquiring CAI Logistics, NFI expands its suite of supply chain services, specifically enhancing its brokerage, intermodal, and global freight forwarding capabilities across North America.
With the acquisition, NFI’s non-asset logistics business units will generate in excess of $500 million in annual revenue, making up 20 percent of NFI’s total revenue of approximately $2.5 billion. Additionally, NFI advances its position as a best-in-class service provider and its expertise in numerous verticals including the industrial, manufacturing, food, beverage, and retail industries.
Facilitating more than 300,000 shipments annually, NFI provides thousands of customers with a wide breadth of multi-modal brokerage services. The addition of CAI Logistics further bolsters NFI’s specialized capabilities including flatbed, over-dimensional, less-than-truckload, expedited, and temperature-controlled transportation.
NFI is an asset and non-asset intermodal provider with capabilities across North America. It is an early adopter in the temperature-controlled intermodal space with a fleet of refrigerated intermodal containers. Integrating CAI Logistics’ rail solutions will extend NFI’s access to more than 100,000 pieces of railroad equipment. Bringing more than 200 years of combined intermodal operations experience to NFI, the CAI Logistics and ClearPointt Logistics teams, will significantly deepen NFI’s intermodal expertise.
Spanning Full Container Load, Less Than Container Load, perishable, and oversized shipments, the acquisition also enhances NFI’s growing ocean and air freight forwarding services that help shippers better connect their international and domestic supply chains.
“With CAI Logistics’ service offerings, NFI will be able to amplify the scalability of its non-asset logistics platform,” said Sid Brown, CEO, NFI. “As we have showcased with our long history of acquisitions, our ability to combine strong operations is unmatched, resulting in a more robust customer experience and integrated solutions that are seamless for shippers and their end consumers.”
“Being a part of the NFI family is a tremendous opportunity for us and for our customers,” said Janet Papworth, President, CAI Logistics. “Our common approach to customer-centricity, combined with NFI’s vast expertise and capabilities, will undoubtedly generate a new level of value we can provide for shippers.”
CAI Logistics represents NFI’s 20th acquisition since 2000. BGSA Holdings LLC acted as exclusive advisor to NFI. Recent acquisitions also include G&P Trucking, SCR Air, and California Cartage Company. CAI Logistics and its entities ClearPointt Logistics LLC, Challenger Overseas, LLC, Hybrid Logistics, Inc., and General Transportation Services, Inc. will be rebranded NFI.