XPO Buys Optima Service Solutions for $26.6 Million

XPO Logistics said Nov. 15 it has purchased Optima Service Solutions, a last-mile logistics services provider for retailers and manufacturers, for $26.6 million.

Founded in 1997, Optima had revenue of $35.7 million and earnings before interest and taxes of $3.7 million for the 12 months ended Oct. 21, according to XPO.

Optima had a 16% compound annual growth rate for the past five years and uses proprietary technology to track the last-mile process from order to delivery.

XPO Logistics CEO Bradley Jacobs said in a statement that Optima is “a fast-growing, highly scalable leader in its space, and expands the capabilities of our last-mile division, 3PD.”

“We plan to leverage these synergies and integrate Optima’s proprietary software with our last-mile technology. This will create a single, powerful customer-service platform that doesn’t exist in the last-mile sector today, he said.

XPO ranks No. 45 on the Transport Topics Logistics Top 50 list of the largest logistics companies in the United States, Canada and Mexico based on revenue.