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🚛 Forward Air intermodal rebounds

📅 The week that was

📰 The reading line

🗣️ Quote of the week

Forward Air this week disclosed that its intermodal business has rebounded, ahead of a planned sale.

What we're watching: Potential acquirers could include J.B. Hunt, Hub Group or Schneider.

The business is expected to fetch about $300 million, Stifel analysts wrote in an investor note.

Catch up quick: Forward Air pivoted to divestitures after an attempt to sell the full company stalled and activist investor Ancora dumped its shares.

Zoom in: Intermodal had its best quarter in over a year and its best margin in six quarters as it increased rates on several accounts, Forward Air CEO Shawn Stewart said.

The company offloaded two legacy Omni Logistics businesses in Q2 for a combined $27 million.

What they're saying: Intermodal "is being rewarded more appropriately for its premium positioning, especially as the drayage market tightens," per Stifel.

What's next: The divestiture, which we previously reported as a possibility, is on track for year-end, execs said. 

1 big thing: 🚛 Forward Air intermodal rebounds

Illustration of a shipping container skewered on a rising arrow.

HappyRobot scored a $150m Series C at a $1.2b valuation, but CEO Pablo Palafox tells Axios Pro the startup may raise again soon. Go deeper

Trimac, a Canadian logistics company, acquired California Freight, a bulk food carrier, brokerage and warehousing firm. Go deeper

3i-backed short-line railroad operator Regional Rail acquired Massachusetts Central Railroad, a 28-mile rail line hauling waste, chemicals, plastics, lumber and other products. Go deeper

Warburg Pincus-backed BlueGrace Logistics acquired Truk TMS, a Post Falls, Idaho-based trucking and supply chain management firm. Go deeper

HomeRun, an Indian quick-commerce platform for construction and interior materials, raised $12m in Series A+ funding. Nexus Venture Partners led, joined by Sorin Investments, Titan Capital, Sparrow Capital, and Consumer Collective by Atrium. Go deeper

Malachyte, an NYC-based ecommerce analytics company, raised $10m in seed funding. Bessemer Venture Partners and Gradient Ventures led, joined by Harpoon Ventures. Go deeper

BNP Group, backed by Godspeed Capital, acquired U.S. Cost, an Alpharetta, Ga.-based cost management and project controls firm for the construction industry. 

Avatar Robotics, a maker of industrial labor robots, raised $6.5m in seed funding. AlleyCorp led, joined by Defy VC and Headline. Go deeper

Shelfmark, a Pittsburgh-based manufacturing monitoring startup, raised $3.5m in seed funding. Armory Square Ventures led, joined by Grand Ventures, Hyde Park Angels, Argon Ventures, and Cultivation Capital. Go deeper

Ambrook, a bookkeeping startup for agriculture, raised $30m in Series B funding. Lachy Groom led, joined by Thomson Reuters Ventures, Thrive Capital, Field Ventures, and Cameron Ventures. Go deeper

Francisco Partners acquired a 55% stake in Command Alkon, a Hilliard, Ohio-based construction software maker, from Thoma Bravo. Germany's Heidelberg Materials retains a minority stake. Go deeper

2. 📅 The week that was

Illustration of a robot arm holding a bag of money. 

🚂 Nissan, intermodal companies voice support for UP-NS merger (Trains)

🚛 Truck capacity tightens as shippers pay more for less (FreightWaves)

🚀 Newly spun-off Honeywell Aerospace cuts 2026 forecast on supply chain woes (Reuters)

🤖 Behind the scenes of Amazon's automated Washington warehouse (Supply Chain Dive)

💰 Carlyle says PE exit market open for sellers of 'good companies' (Bloomberg)

3. 📰 The reading line

Illustration of a newspaper with polygraph test lines on the front. 

"Forward Air has been a rocky ride, to say the least, but we are seeing very good signs."

— Stifel analysts Bruce Chan, Matthew Milask, Andrew Cox and Pernille Buhl

4. 🗣️ Quote of the week

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August 08, 2026

1 big thing: 🚛 Forward Air intermodal rebounds