Since its founding in 1993, Forward Air Corporation has significantly grown its core service offering of time-definite surface transportation and related logistics services to the North American air freight and expedited LTL market. In the past decade, we further have greatly expanded our service offerings to include an array of logistics services, including pick-up and delivery, intermodal drayage, pool distribution, and specialized temperature-controlled logistics services. As a result, since 1995, Forward Air Corporation has experienced rapid growth in revenue from $63.6 million to $781 million in 2014 and in operating income from $6.4 million to $96 million in 2014.
Today, Forward Air Corporation operates through three principal segments: Forward Air ("Forward Air"), Forward Air Solutions ("FASI") and Total Quality ("TQI").
The Forward Air segment, acting as a licensed property broker, utilizes selected motor carriers, including our own and other third-party transportation companies, to offer our customers local pick-up and delivery (Forward Air Complete®), scheduled line haul surface transportation, and zip code-to-zip code, all-in priced surface transportation of cargo as a cost-effective, reliable alternative to air transportation. As a result of our acquisition of CLP Towne Inc. in March 2015, Forward Air added 4 new terminals and a material number of independent contractor owner-operators and significantly expanded its Forward Air Complete® service area.
The foundation product for Forward Air is our expedited LTL service, offering highly reliable transit and on-time, damage-free deliveries between 92 cities every day. By locating terminals on or near airports in 92 U.S. and Canadian cities and maintaining a scheduled transportation network, we are able to arrange for convenient and consistent service with broad geographic coverage. LTL shipments of varying sizes are received at our terminals and transported by contracted service providers either (1) on a direct truck to the destination terminal, (2) through our Columbus, Ohio central sorting hub, or (3) through one of our 12 regional hubs, where they are unloaded, sorted, and reloaded in rapid fashion. After reloading the shipments, our contracted service providers deliver them to the destination city for early morning recovery. Customers also can select to have shipments picked up from the shipper, delivered to the final consignee, or transferred at the airport, simplifying their freight management processes. These options allow us to maximize handling efficiency of each shipment while minimizing freight loss and damage and improving transit times compared to traditional ground transportation.
Forward Air also offers our customers an array of logistics and other services, including: expedited full truckload ("TLX"); dedicated fleets; warehousing; customs brokerage; and shipment consolidation, deconsolidation, and handling. Also included in the Forward Air segment are the services performed by Central States Trucking Co. and Central States Logistics, Inc. ("CST") which we acquired in 2014. CST provides intermodal drayage, devanning, transloading, and warehousing services.
Through our FASI segment, which we formed in July 2007, we provide pool distribution services throughout the Mid-Atlantic, Southeast, Midwest, and Southwest continental United States. Pool distribution involves the management of high-frequency, last mile handling and distribution of time-sensitive product to numerous destinations in specific geographic regions. Our primary customers for pool distribution are regional and nationwide distributors and specialty retailers such as mall, strip mall, and outlet-based retail chains.
Finally, through TQI, which we acquired in March 2013, we provide maximum security and temperature-controlled logistics services, primarily truckload services, to the life sciences sector (pharmaceutical and biotechnology products). In addition to core pharmaceutical services and other cold chain services, TQI also provides truckload and less-than-truckload brokerage transportation services.