Roadrunner Transportation Systems Inc (NYSE: RRTS) has acquired all of the outstanding stock of Unitrans International Corporation, a non-asset-based provider of international logistics services based in Los Angeles CA.
The total purchase price of $55.5 million was financed by borrowings under Roadrunner’s credit facility. Unitrans offers its customers international ocean and air transportation management, customs house brokerage, and domestic logistics services, with a focus on complex, cold chain, and high-value shipments.
Mark DiBlasi, president and chief executive officer of Roadrunner, said, “As we have indicated, one of our key strategic objectives is expanding our international capabilities to meet our customers’ total transportation and logistics needs. The addition of Unitrans diversifies and expands our existing global supply chain solution and brings a well-run company with a proven track record of high-service quality to Roadrunner.
“Unitrans has an excellent leadership team led by Andrew Schadegg and Chris Amberg,” he said. “Andrew and Chris have been integral in defining Unitrans’ strategy and shaping its culture, and will remain in place to help us realize growth in our international platform.”
In 2013, Unitrans generated revenues of approximately $84 million. Unitrans is expected to be accretive to Roadrunner’s earnings in 2014.
Roadrunner is a transportation and logistics service provider of customized and expedited less-than-truckload, truckload logistics, transportation management services, intermodal solutions, freight consolidation, inventory management, expedited services, international freight forwarding, customs brokerage, and global supply chain services.
For more information, access www.rrts.com.