Lineage Logistics closes acquisition of UTI Forwarding
Lineage Logistics, the temperature-controlled industrial REIT and logistics solutions provider, has closed the acquisition of UTI Forwarding, a Rotterdam-based freight forwarder.
The acquisition was first announced on April 26, 2021. UTI Forwarding is a leading freight forwarding company that is strategically located in Rotterdam, Netherlands, which specializes in the exporting and importing of Full Container Load cargo, handling both temperature-controlled and other containerized goods.
The acquisition marks Lineage’s entrance into the freight forwarding industry in Europe, further strengthening Lineage’s end-to-end supply chain offering by advancing the operational synergies for the movement of goods through Lineage’s global warehouse network.
“Together with UTI we will create even greater opportunities to provide end-to-end supply chain offerings for our shared customers,” said Mike McClendon, president of international operations and EVP of network optimization at Lineage. “We are thrilled to close on this acquisition and officially welcome UTI into the Lineage family.”