Roadrunner Transportation Systems Announces Acquisition of G.W. Palmer Logistics
Roadrunner Transportation Systems, Inc. (NYSE: RRTS) has announced that it has acquired all of the outstanding equity of G.W. Palmer Logistics, LLC (“G.W. Palmer”), a non-asset truckload service provider based in Batesville, Arkansas.
The purchase price was approximately $2.5 million, plus an earn-out capped at $2.8 million. The acquisition was financed with borrowings under Roadrunner’s credit facility.
Mark DiBlasi, President and CEO of Roadrunner, said, “The G.W. Palmer acquisition enhances our truckload service offering in the South due to its concentration in temperature controlled products. G.W. Palmer’s management team will remain in place and are excited about the growth opportunities we collectively envision. We look forward to supporting and expanding G.W. Palmer’s strong customer relationships and service record as we expand the business.”
During calendar year 2012, G.W. Palmer generated approximately $20 million in revenues. G.W. Palmer is expected to be accretive to Roadrunner’s earnings in the near term. More at Roadrunner Transportation.
Category: Fleet Diagnostics & Software, Green
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