Express-1 Expedited Solutions, Inc. (NYSE Amex: XPO) (Express-1 or the
Company) today announced that it has filed with the Securities and
Exchange Commission, and will commence mailing of, definitive proxy
materials in connection with the proposed equity investment in the
Company led by Jacobs Private Equity, LLC. As previously announced on
June 14, 2011, Express-1 has entered into an agreement under which
Jacobs Private Equity and minority co-investors will invest an aggregate
of up to $150 million in cash in the Company, including amounts payable
upon exercise of warrants to be purchased under the agreement.
A special meeting of the Companys stockholders will be held at 441Post
Road, Buchanan, Mich., at 9:00 a.m. EDT, on Thursday, September 1, 2011.
Among other matters, stockholders will consider and vote on the proposed
equity investment, as well as a proposed renaming of the Company as XPO
Logistics, Inc. Stockholders of record as of the close of business on
August 1, 2011, will be entitled to vote at the special meeting.
Bradley S. Jacobs, managing director of Jacobs Private Equity, said,
I'm looking forward to creating a multi-billion dollar third party
logistics business under the new banner of XPO Logistics. The company's
existing expertise in truckload brokerage, expedited services and
freight forwarding gives us a very strong platform for growth."
The board of directors of the Company has approved the proposed equity
investment and recommends that all Company stockholders vote FOR the
approval of the proposed transaction and the related proposals set forth
in the definitive proxy materials. Stockholders are encouraged to read
the definitive proxy materials in their entirety as they provide a
detailed discussion of the proposed transaction and each of the related
Stockholders who have questions about the proposed equity investment or
the related proposals, or who need assistance in submitting their proxy
or voting their shares, should contact the proxy solicitor, Innisfree
MA Incorporated, at (888) 750-5834 or email@example.com.
About Express-1 Expedited Solutions, Inc.
Founded in 1989, Express-1 is a non-asset-based, third-party logistics
services provider that uses a network of relationships with ground, sea
and air carriers to find the best transportation solutions for its
customers. The Company offers its services through three distinct
business units: Express-1, Inc. (expedited transportation solutions),
the fifth largest U.S. expedited freight service provider, according to The
Journal of Commerce; Concert Group Logistics, Inc.