Private equity firm's new acquisition and merger creates one of largest 3PLs in US

Ridgemont Equity Partners will acquire the trucking brokerage firm Worldwide Express and combine it with its own trucking unit to create one of the largest third-party logistics providers in the U.S., according to The Wall Street Journal.

Here are four things to know.

1. Ridgemont purchased Dallas-based Worldwide Express from the private-equity group Quad-C Management in a deal valued between $680 million to $720 million, according to the report.

2. The Charlotte, N.C.-based private equity firm plans to merge Worldwide Express with Salt Lake City-based Unishippers Global Logistics, which it acquired in 2015.

3. The newly formed firm, Worldwide Express Global Logistics, will rank among the top 30 third-party logistics providers in the U.S. and is expected to create more than $1 billion in annual sales, reports WSJ.

4. The deal is expected to close in the first quarter of 2017.

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