Express-1 Unit Buys Logistics Firm
Express-1 Expedited Solutions said it bought Concert Group Logistics for $9 million in cash and 4.8 million shares of stock.
The deal, which closed Thursday, allows consideration for up to an additional $2 million, payable over a two-year period, Express-1 said in a statement.
Privately held CGL, based in Downers Grove, Ill., is a non-asset based premium transportation service provider focused on the freight forwarding industry.
CGL was profitable last year with about $47 million in revenues, Express-1 said in a statement.