Roadrunner Buys Rich Logistics
Roadrunner Transportation Inc. said it has acquired Rich Logistics, a Little Rock, Ark.-based trucking company that operates throughout the United States and Mexico.
Roadrunner also bought Everett Transportation Inc., which operates exclusively for Rich, Roadrunner said Feb. 24.
“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,” Roadrunner CEO Mark DiBlasi said in a statement. “Rich Logistics’ superior service standards and strong reputation will allow us to strengthen its existing customer relationships as well as cultivate new relationships.”
The total value of the transaction is $48 million, financed with borrowings under Roadrunner’s credit facility, it said. The management teams at the acquired carriers will remain.
Rich generated revenue of about $113 million in 2013, Roadrunner said.