XPO buys truck broker Covered Logistics in $11 million cash and stock transaction
Move adds to company's broker network. By Mark B. Solomon XPO Logistics, Inc., a nonasset-based third-party logistics provider with ambitious expansion plans, said late yesterday it acquired truck freight broker Covered Logistics & Transportation LLC, for $8 million in cash and $3 million in XPO stock. Covered Logistics, with offices in Dallas and in Lake Forest, Ill., a Chicago suburb, was founded in 2005. Its co-founders, Tuck Jasper, Paul Jasper, and Patrick Gillihan, will continue t