XPO Logistics Spin-off (GPO)

the following is a portion of a news release about the spin-off



“XPORemainCo Profile

Post-separation, XPORemainCo will be a top provider of freight transportation, primarily LTL and non-asset truck brokerage — these two services currently account for approximately 90% of adjusted EBITDA. The business will comprise:

• The third largest provider of LTL transportation in North America, with an industry-best improvement in adjusted operating ratio over the five years of XPO ownership; and
• The second largest truck brokerage provider worldwide, with a digital brokerage marketplace that has the fastest carrier adoption rate in the industry.

As of September 30, 2020, XPO had transportation operations in 17 countries, with approximately 38,000 employees and 724 locations.

NewCo Profile

Post-separation, NewCo will be the second largest contract logistics company in the world, with approximately 200 million square feet of warehouse space. The business will comprise:

• A range of innovative services enabled by intelligent technology, including high-value-add warehousing, omnichannel fulfillment, reverse logistics, cold-chain logistics and supply chain optimization;
• The largest outsourced e-commerce fulfillment platform in Europe, with burgeoning e-commerce and reverse logistics services in North America; and
• XPO Direct™, a shared-space distribution network in North America with the flexibility to reposition customer inventories close to demand.

As of September 30, 2020, XPO had asset-light logistics operations in 27 countries, with approximately 58,000 employees and 766 locations.”

The LTL portion of XPO used to be Conway freight. Conway was just LTL, no logistics/warehousing.

 

they did have melone

 

Con-way had 3 divisions before the buy out.
Freight(LTL); Truckload; and Menlo, which was a brokerage firm.
After the buy out, XPO sold Truckload, and Menlo.