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Hub Group Enters Cross-border Venture

[ October 11, 2024   //   ]

Hub Group Inc., the comprehensive transportation and logistics management solutions, said Oct. 8 said it has entered a joint venture with EASO, a family owned, Mexico City-based intermodal and trucking logistics provider.
The joint venture will be the largest cross-border and intra-Mexico intermodal company, positioning Hub Group to capitalize on nearshoring trends and provide growth opportunities.
EASO, founded in 1972, specializes in intermodal, dedicated trucking, truckload and freight brokerage services. Through a network of terminals, EASO intermodal cross-border network serves the entire Mexican domestic market and main U.S. logistics hubs in the U.S. using its intermodal cross-border network.
Mexico’s largest intermodal carrier, EASO will add significant scale to Hub Group’s intermodal and transportation solutions business. EASO serves a diverse base of “blue-chip customers” across a variety of modes.
“With a substantial increase in cross-border trade activity from nearshoring, this partnership maximizes Hub Group’s cross-border service offering and provides increased intermodal conversion opportunities,” Hub Group said in a release. The family will continue leading and managing the joint venture, with support from their existing management team and Hub Group.
“The joint venture aligns with our long-term investment strategy and further enables our vision to deliver the premier supply chain solution,” said Phil Yeager, Hub Group’s President, CEO and vice chairman.
For the full year 2024, EASO estimates 2024 revenue of about US$115 million. Hub Group anticipates the deal is expected immediately accretive upon close to Hub Group’s 2024 EPS.
Jones Day LLP served as lead legal counsel and Raymond James & Associates Inc. was financial advisor to Hub Group on the deal. Perez-Llorca / Gonzalez Calvillo served as legal counsel and Bluejay Advisors LLC served as M&A adviser to EASO.
Oakbrook, Illinois-based Hub Group has more than US $4 billion in revenue, and employes nearly 6,000.

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