M&A - CLEARLAKE CAPITAL GROUP, L.P.

Form Type: SCHEDULE 13D/A

Filing Date: 2025-07-03

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025093990

Filing Summary: Clearlake Capital Group, L.P. filed an amendment to their Schedule 13D on July 3, 2025, regarding Forward Air Corporation. This amendment indicates that the Reporting Persons, which include Clearlake and its affiliates, anticipate submitting non-binding proposals to acquire all outstanding shares of Forward Air's common stock that they do not already own, contingent upon further due diligence and internal approvals. The Reporting Persons have previously signed a confidentiality agreement with Forward Air. They express no obligation to negotiate a definitive transaction, and any potential proposals will not necessarily lead to a completed transaction. Should such a transaction occur, it could involve changes such as a merger or other significant corporate actions. The Reporting Persons hold approximately 12.6% of Forward Air's outstanding shares as of May 2, 2025, and have not conducted any transactions concerning these shares in the last 60 days. They may also consider strategies impacting Forward Air's management, business structure, or plans regarding the acquisition of additional shares.