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Geodis Acquires Freight Forwarder Velocity - Multichannel Merchant


Geodis Acquires Freight Forwarder Velocity
July 20, 2021
Third-party logistics provider Geodis has acquired Plano, TX-based freight forwarding company Velocity Transport from Berkshire Hathaway subsidiary McLane Company, to add to its forwarding capabilities across a range of modalities.
Velocity provides freight brokerage services that include refrigerated and temperature-controlled freight, flatbed and less-than-load (LTL) trucking, intermodal, van and specialty options. Terms of the deal, which closed June 30, were not disclosed.
“As the industry experiences extremely tight capacity with shortages of drivers and trucks, and that is not going away anytime soon, we saw this as an opportunity to expand and grow our brokerage services,” said Jeff McDermott, SVP of transportation management for Geodis Americas. “We can offer customers more resources, and the ability to add more capacity to the network to support them.” ....

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SPACs Are Also Focusing on ESG Companies


U.S. special purpose acquisition companies, or SPACs, are targeting companies with high environmental, social, and governance characteristics.
According to Nomura Greentech data, U.S. IPOs by SPACs with a focus on ESG or sustainability, along with those in sectors including environmental technology, transportation, industrials, water and energy, accounted for 49 out of a total of 306 deals in the first four months of 2021, Reuters reports.
In comparison, U.S. IPOs by SPACs with a focus on ESG or sustainability only amounted to 40 in the second half of 2020.
Looking at transaction so far in 2021, 32 SPAC mergers with ESG firms have been announced, compared to 31 for all of 2020. The value of the deals so far this year, at $117 billion, is already more than 2.5 times that raised for all of 2020, and makes up 38% of total SPAC merger volume, compared to 25.3% in the second half of 2020. ....

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SPACs target more ESG companies in 2021 -Nomura Greentech


Sustainable BusinessSPACs target more ESG companies in 2021 -Nomura Greentech
Simon JessopPatturaja Murugaboopathy
3 minute read
An Engie Green power-generating windmill turbine in the middle of rapeseed and wheat fields, in Saint-Hilaire-lez-Cambrai, France, May 18, 2021. REUTERS/Pascal Rossignol
Companies with environmental, social and governance (ESG) credentials have been high on the list of merger targets for U.S. special purpose acquisition companies (SPACs) so far in 2021, data from Nomura Greentech showed.
U.S. IPOs by SPACs with a focus on ESG or sustainability and in sectors including environmental technology, transportation, industrials, water and energy totalled 49 in the first four months of 2021, out of a total of 306, Nomura s data showed. ....

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