Universal Truckload Services said Thursday its second-quarter profit improved and that it will buy third-party logistics firm LINC Logistics for $335 million.
LINC primarily serves the automotive and manufacturing industries, and provides truckload, expedited, and freight forwarding services. Universal said the deal was a stock-for-stock transaction.
Universal’s net income rose to $5 million, or 32 cents a share, from $3.9 million, or 25 cents, a year ago. Revenue rose 2.8% to $185 million.
Truckload revenue slipped 0.7% to $110 million, while brokerage revenue rose 9.2% to $46 million. Intermodal revenue improved 7.6% to $29 million.
Universal Truckload is ranked No. 39 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.