NEW YORK, July 23 (Reuters) - A handful of private

equity firms, including Clearlake Capital, Platinum Equity and

EQT, have submitted bids to buy Forward Air, three

sources familiar with the matter said, as the process to sell

the U.S. trucker picks up speed.

Forward Air, which specializes in moving hauls which do not

take up a full truckload, signaled to investors it wants the

strategic alternatives review it announced in January to be

wrapped up in a few weeks, possibly around the time the company

is expected to release earnings on August 11.

Sources said buyout firms Apollo Global Management ( APO )

and AIP have also made bids to buy Forward Air. It could not be

immediately learned what the bidders were offering to pay, the

sources said.

Representatives for Forward Air and AIP declined to comment.

Clearlake, Apollo, Platinum and EQT did not immediately respond

to requests for comment.

The sources spoke on the condition of anonymity to discuss

the private talks, and cautioned no deal is guaranteed and other

bidders could still emerge.

In June, Reuters reported that Apollo and Blackstone,

as well as Platinum and Clearlake, had expressed interest in

bidding for the company, signing confidentiality agreements in

order to review documents that would help inform their

decisions.

Greeneville, Tennessee-based Forward Air's share price has

tumbled roughly 75% since the company said two years ago it

would acquire Omni Logistics, a deal that closed in early 2024.

But it has jumped 27% over the last month, pushed by

expectations the company will eventually be sold.

It traded at $28.14 on Wednesday.

The company is currently valued at $855 million, but on a

fully diluted basis, including net debt, analysts said the

company's enterprise value is closer to $3 billion.

Frustrated by the unpopular acquisition, several

investors last year began pushing for a sale of the company,

which was officially announced in January.

Ancora Holdings, which owns 4% of the company, in May sought

to speed up the process by pushing for the removal of three

long-serving directors it blamed for signing off on the Omni

deal and stalling the sales process. The directors resigned soon

after the company's annual meeting.