Universal Truckload Services Inc. said it will acquire Westport Axle Corp. from its Brazilian owners for $123 million.
Westport, based in Louisville, Ky., had operating revenues of $66 million for the nine months ended Sept. 30, according to Universal Truckload.
Westport provides warehousing and component-distribution services to manufacturers of Classes 4-8 trucks and is owned by the holding company SM Brasil Participacoes S/A.
“The acquisition of Westport strategically enhances our customer base by further penetrating industrial markets, specifically to manufacturers of medium- and heavy-duty trucks. We believe that Westport’s value-added services and limited capital requirements fit nicely into Universal’s business model and long-term growth strategy,” Universal Truckload CEO Scott Wolfe said in a statement.
“We look forward to working with Westport’s proven management team to enhance their already-strong customer relationships as we further expand Universal’s value to our customers,” he said.