Roadrunner Announces Sale of its Flatbed Business Unit

Flatbed business unit operates as D&E Transport based in Minnesota

Roadrunner Transportation Systems, Inc. a leading asset-right transportation and asset-light logistics service provider, announced the sale of its Flatbed business unit, for $30 million in cash, subject to customary purchase price and working capital adjustments.

Roadrunner’s Flatbed business unit operates as D&E Transport based in Clearwater, Minnesota, and provides reliable flatbed service to a broad range of customers in the industrial, agriculture and general freight markets. The business had revenue of over $50 million for the trailing 12 months ended September 30, 2019 and was part of the company’s Truckload segment.

“The divestiture of the Flatbed business unit is another step forward in our strategy to simplify our portfolio by focusing on our value-added logistics and asset-light LTL segments,” said Curt Stoelting, Chief Executive Officer of Roadrunner.

The company used the proceeds from the sale to repay finance leases and debt and pay transaction costs, with the remaining amount available for general corporate purposes.

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