Jun 7, 2012 10:48 AM
Roadrunner Transportation Systems Inc (NYSE: RRTS), an asset-light transportation and logistics service provider, has acquired all of the outstanding capital stock of CTW Transport, a truckload carrier focused primarily on refrigerated food products in Massachusetts, for approximately $7.5 million plus an earnout. The acquisition was financed with borrowings under Roadrunner’s credit facility.
“The acquisition of CTW broadens the service offerings within our Truckload & Logistics business segment and expands our refrigerated capacity and customer base,” said Mark DiBlasi, chief executive officer of Roadrunner. “CTW’s former owner will remain in place and is excited about the growth opportunities we collectively envision.”
“CTW is complementary to our Truckload & Logistics platform,” said Brian van Helden, president of Roadrunner’s Truckload & Logistics business segment. “We are excited about the opportunity to serve CTW’s long-term customer base and to accelerate our growth and geographic expansion.”
For 2012, CTW expects to generate revenues of approximately $15 million. CTW is expected to be accretive to Roadrunner’s earnings in 2012.
For more information, visit www.rrts.com.
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