Cravath, Swaine & Moore LLP

01/31/2024 | Press release | Distributed by Public on 01/31/2024 14:35

Forward Air’s $2.25 Billion of High‑Yield Notes and Credit Facilities to Finance the Acquisition of Omni Logistics

Cravath represented Forward Air Corporation in connection with $1.525 billion of senior secured credit facilities and $725 million of 144A/Reg. S high-yield senior secured notes in connection with its acquisition of Omni Logistics. Forward Air Corporation is a leading asset-light freight and logistics company. The acquisition closed on January 25, 2024.

The Cravath team representing Forward Air Corporation included partners Joseph D. Zavaglia, Douglas Dolan and Kelly M. Smercina, of counsel Isaac C. Beerman and associates Ori Oren, Matthew C. Weinstein, Elise Zhou and Colin L. Halvey on capital markets and banking matters; partner Andrew T. Davis and associates Carlos Nicholas Obando and Tristan Baylor on tax matters; partner Matthew Morreale on environmental matters; and practice area attorney David Crampton on executive compensation and benefits matters.

People

TitlePartnerEmail[email protected]Phone+1-212-474-1724vCardDownload vCard

Education

  • J.D., 2004, Brooklyn Law School
    Valedictorian, summa cum laude
  • B.B.A., 2001, College of Insurance
    cum laude

Admitted In

  • New York
Photo
TitlePartnerEmail[email protected]Phone+1-212-474-1310vCardDownload vCard

Education

  • J.D., 2014, New York University School of Law
    magna cum laude
  • B.A., 2011, Cornell University

Admitted In

  • New York
TitlePartnerEmail[email protected]Phone+1-212-474-1133vCardDownload vCard

Education

  • J.D., 2014, University of Michigan Law School
    Order of the Coif, summa cum laude
  • B.A., 2011, University of Notre Dame
    Phi Beta Kappa, summa cum laude

Admitted In

  • New York
Photo
TitlePartnerEmail[email protected]Phone+1-212-474-1272vCardDownload vCard

Education

  • LL.M., 2020, New York University School of Law
  • J.D., 2014, Stanford Law School
  • A.B., 2010, Princeton University
    summa cum laude

Admitted In

  • New York
Photo
TitlePartnerEmail[email protected]Phone+1-212-474-1534vCardDownload vCard

Education

  • J.D., 1997, Columbia Law School
    Harlan Fiske Stone Scholar
  • M.S., 1994, University of Pennsylvania
  • B.A., 1990, University of Pennsylvania
  • B.A.S., 1990, University of Pennsylvania

Admitted In

  • New York
TitleOf CounselEmail[email protected]Phone+1-212-474-1048vCardDownload vCard

Education

  • J.D., 2010, Harvard Law School
  • B.A., 2006, University of North Carolina at Chapel Hill
    Phi Beta Kappa, cum laude

Admitted In

  • New York
TitlePractice Area AttorneyEmail[email protected]Phone+1-212-474-1358vCardDownload vCard

Education

  • J.D., 2020, Cornell Law School
    magna cum laude
  • B.S., 2016, Oregon State University

Admitted In

  • New York

Related News

Deals & Cases

January 24, 2024

Forward Air's Amended Agreement to Acquire Omni Logistics, Resolving Previously Announced Litigation

On January 22, 2024, Forward Air Corporation ("Forward") announced an agreement with Omni Logistics, LLC ("Omni"), a private company that is majority owned by Ridgemont Equity Partners and EVE Partners, LLC, to amend the terms of the existing merger agreement relating to their previously announced acquisition. This agreement ends the litigation between the parties, which will now be dismissed. Under the terms of the amended merger agreement, Omni shareholders will receive $20 million in cash, instead of the $150 million initially agreed, and 35% of Forward's pro forma common equity (on a fully-diluted, as-converted basis), as compared to the 37.7% of Forward's pro forma common equity (on a fully-diluted, as-converted basis) contemplated by the original agreement. Cravath is representing Forward in connection with the transaction and related litigation.

Deals & Cases

August 10, 2023

Forward Air's Combination with Omni Logistics

On August 10, 2023, Forward Air Corporation ("Forward"), a provider of transportation services, and Omni Logistics, LLC ("Omni"), a private logistics and supply chain management company that is majority owned by Ridgemont Equity Partners and EVE Partners, LLC, announced that they have entered into a definitive agreement under which Forward and Omni will combine in a cash-and-stock transaction, creating a combined company that generated approximately $3.7 billion of combined company adjusted revenue for the twelve months ended June 30, 2023. Cravath is representing Forward in connection with the transaction.