The asset-light transportation and logistics services provider Roadrunner Transportation Systems has acquired Los Angeles-based non-asset-based logistics company Unitrans International Corp.
Roadrunner financed the $55.5 million with its own credit facility. The move continues a stream of acquisitions by Roadrunner in the non-asset space. In this case, it adds international capabilities to Roadrunner's portfolio.
“As we have indicated, one of our key strategic objectives is expanding our international capabilities to meet our customers’ total transportation and logistics needs," said Roadrunner President and Chief Executive Officer Mark DiBlasi. "The addition of Unitrans diversifies and expands our existing global supply chain solution and brings a well-run company with a proven track record of high service quality to Roadrunner."
The Unitrans executive team will remain in place. In 2013, Unitrans generated revenues of approximately $84 million.
The deal is expected to be accretive to Roadrunner’s earnings in 2014.