Roadrunner Transportation Systems acquires Arkansas-based Rich Logistics for US$48M; move will allow Roadrunner to expand truckload offering, access to freight entering, leaving Mexico
February 25, 2014
– Roadrunner Transportation Systems, Inc. (RRTS), announced today that it had acquired Rich Logistics, a provider of truckload and expedited services based in Little Rock, Arkansas. In addition, Roadrunner acquired Everett Transportation Inc. and certain assets of Keith Everett (collectively, “Everett”). The total enterprise value of the transaction was approximately $48 million. Rich Logistics transports product throughout the United States and Mexico utilizing a combination of independent contractors and employee drivers. Everett is a contractor operating exclusively for Rich Logistics. The acquisition was financed with borrowings under Roadrunner’s credit facility.
Mark DiBlasi, President and CEO of Roadrunner, said, “The acquisition of Rich Logistics provides an excellent opportunity to expand our truckload offering and broadens our access to freight going into and coming out of Mexico. Rich Logistics’ superior service standards and strong reputation will allow us to strengthen its existing customer relationships as well as cultivate new relationships. Both Rich Logistics’ and Everett’s management teams will stay in place to help achieve the growth opportunities that we collectively envision.”
“Rich Logistics’ operating network, service standards, and high quality fleet are an excellent complement to our existing truckload services platform and will provide immediate growth opportunities within the segment,” said Brian van Helden, Roadrunner’s COO.
In 2013, Rich Logistics generated revenues of approximately $113 million. Rich Logistics is expected to be accretive to Roadrunner’s earnings in 2014.
About Roadrunner Transportation Systems, Inc.
Roadrunner is a leading asset-light transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload logistics, transportation management solutions, intermodal solutions, freight consolidation, inventory management, expedited services, international freight forwarding, customs brokerage, and comprehensive global supply chain solutions. For more information, please visit Roadrunner’s website, www.rrts.com.
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