---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-304001"
form_type: "8-K"
ticker: "FWRD"
cik: "0000912728"
company_name: "FORWARD AIR CORP"
filed_at: "2023-12-27T23:59:59+00:00"
generated_at: "2026-06-07T07:11:24.587391+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Forward Air sells Final Mile business to Hub Group for $262M

## Summary
- Final Mile sold to Hub Group for $262M cash; transaction closed Dec 20, 2023.
- Final Mile generated ~$289M revenue in 12 months ended Sep 30, 2023.
- Business has ~45 locations and over 640 employees transferring to Hub Group.
- Final Mile revenue grew over 150% since inception in 2019, CEO cites corporate clarity.

## SEC filing metadata
- accession: 0001193125-23-304001
- form_type: 8-K
- ticker: FWRD
- cik: 0000912728
- company_name: FORWARD AIR CORP
- filed_at: 2023-12-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912728/000119312523304001/0001193125-23-304001-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912728/000119312523304001/d181499d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-304001
- JSON: https://secwatch.observer/filing/0001193125-23-304001.json
- Plain text: https://secwatch.observer/filing/0001193125-23-304001.txt

## Key facts
- Material Agreements
  FORWARD AIR CORP entered into Equity Purchase Agreement with Hub Group, Inc. valued at $262,000,000 (effective 2023-12-20).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Hub Group, Inc.
  - Value: $262,000,000
  - Effective: 2023-12-20
  source text: On December 20, 2023, Forward Air Corporation, a Tennessee corporation (the “Company”) and certain of the Company’s subsidiaries entered into an Equity Purchase Agreement (the “Purchase Agreement”) with Hub Group, Inc., a Delaware corporation (the “Purchaser”), pursuant to which the Purchaser acquired all of the issued and outstanding equity interests of the companies constituting the Company’s Final Mile business for an aggregate cash purchase price of $262,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/912728/000119312523304001/0001193125-23-304001-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.