Ryder System, Inc. (NYSE:R) acquired Cardinal Logistics Management Corporation from H.I.G. Capital, LLC for $290 million
February 31, 2024
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Ryder System, Inc. (NYSE:R) acquired Cardinal Logistics Management Corporation from H.I.G. Capital, LLC for $290 million on February 1, 2024. Tom Hostetler and Vin McLoughlin will join Ryder. The transaction is expected to be accretive in 2025 after achieving synergies and completing integration efforts. William Blair & Company acted as financial advisor to Cardinal, and McDermott Will & Emery LLP acted as legal counsel in connection with the transaction. Greenberg Traurig LLP acted as Ryder?s legal counsel for the transaction.
Ryder System, Inc. (NYSE:R) completed the acquisition of Cardinal Logistics Management Corporation from H.I.G. Capital, LLC on February 1, 2024.
Ryder System, Inc. is a provider of outsourced logistics and transportation services. The Company provides supply chain, dedicated transportation, and commercial fleet management solutions. It operates through three segments: Fleet Management Solutions (FMS), which provides full service leasing that includes its contractual maintenance offering, commercial rental and maintenance services of trucks, tractors and trailers to customers principally in the United States (U.S.) and Canada; Supply Chain Solutions (SCS), which provides fully integrated port-to-door logistics solutions, including distribution management, dedicated transportation, transportation management, freight brokerage, e-commerce fulfillment, last-mile delivery, contract packaging, and contract manufacturing in North America, and Dedicated Transportation Solutions (DTS), which provides turnkey transportation solutions in the U.S., including dedicated vehicles, professional drivers, management, and administrative support.
RYDER SYSTEM, INC. 
