With cash on hand and the economy growing again, a pair of Tennessee trucking companies are on the prowl for competitors they can buy, according to a recent Reuters report.
Memphis-based FedEx and Greeneville-based Forward Air are among a handful of logistics companies cited in the report as looking for growth through acquisition.
“I think we are going to see a very active consolidation wave over the next 24-36 months,” Tom Connolly, managing partner at investment banking firm Eve Partners, told Reuters.
If the consolidation speculation is right, it will boost the companies’ stock, the report says.