Roadrunner Transportation Acquires Rich Logistics
Roadrunner Transportation Systems, Inc. (NYSE: RRTS) has announced that it has 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.”
In 2013, Rich Logistics generated revenues of approximately $113 million.
More at: www.rrts.com.
Category: General Update
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