Roadrunner Acquires Rich Logistics
by February 25, 2014 8:14 am 110 views
Roadrunner Transportation Systems, Inc. announced Monday (Feb. 24) that it had acquired Little Rock-based Rich Logistics. In addition, Roadrunner acquired Everett Transportation Inc.
The total value of the transaction was approximately $48 million.
Rich Logistics transports products throughout the U.S. and Mexico utilizing a combination of independent contractors and employee drivers. Everett is a contractor operating exclusively for Rich Logistics.
“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 Mark DiBlasi, President and CEO of Roadrunner.
“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.”
In 2013, Rich Logistics generated revenues of approximately $113 million. Rich Logistics is expected to be accretive to Roadrunner’s earnings in 2014.
Roadrunner Transportation Systems is headquartered in Cudahy, Wisconsin.