Universal Logistics Holdings, an asset-light provider of customized transportation and logistics solutions, has announced the acquisition of Deco Logistics and Oaktree Logistics, which conduct business as Container Connection. That operation has provided full-service harbor drayage in California for more than 25 years, according to a Dec. 7 press release.
The cash purchase price was $60 million, subject to post-closing adjustments.
“Container Connection represents the fourth strategic acquisition we have made in the intermodal space in 2018, and we continue to actively review other strategic acquisition opportunities,” said Jeff Rogers, CEO of Universal Logistics. “Complementing our local drayage service to the Ports of L.A. and Long Beach, the acquisition of Container Connection ties together the Inland Empire for a comprehensive southern California intermodal strategy.”
In addition to Container Connection, Universal Logistics acquired Specialized Rail Service Inc., Southern Counties Express and Fore Transportation in 2018.
Container Connection is headquartered in Riverside, Calif., utilizing a network of more than 230 independent contractors to serve customers in the Inland Empire and Central Valley areas. It also offers warehousing, secured parking and yard space at an 18.5-acre facility.
Container Connection reported total operating revenues of $55.5 million for the year ended Dec. 31, 2017. It will now operate as a subsidiary of University Intermodal Inc., according to the release. — Transport Topics