Roadrunner Transportation Systems – RRTS – Announces Acquisition of Direct Connection Transportation
Roadrunner Transportation Systems, Inc. (NYSE: RRTS) announced that it has acquired all of the outstanding stock of Direct Connection Transportation (“DCT”), a non-asset truckload service provider based in Phoenix. The purchase price was approximately $1.3 million and the acquisition was financed with cash on hand.
Mark DiBlasi, President and CEO of Roadrunner, said, “The DCT acquisition enhances our truckload service offering in the South West region due to its concentration in temperature controlled products. DCT’s former owner will remain in place and is excited about the growth opportunities we collectively envision. We look forward to supporting and expanding DCT’s strong customer relationships and service record as we expand the business.”
During calendar year 2011, DCT generated approximately $8 million in revenues. DCT is expected to be accretive to Roadrunner’s earnings in 2013.
About Roadrunner Transportation Systems, Inc. – RRTS
Roadrunner (RRTS) is a leading asset-light transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload and logistics, transportation management solutions, intermodal solutions, and domestic and international air.
Roadrunner Transportation Systems, Inc. (RRTS) is a transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload and logistics, transportation management solutions, intermodal solutions (transporting a shipment by more than one mode, primarily via rail and truck), and domestic and international air.
RRTS utilizes a third-party network of transportation providers, consists of independent contractors (ICs) and purchased power providers. The Company has three operating segments: less-than-truckload, truckload and logistics, and transportation management solutions. In April 2012, RRTS acquired all of the outstanding capital stock of D&E Transport. In June 2012, the Company acquired CTW Transport. In August 2012, the Company acquired R&M Transportation and Sortino Transportation, providers of truckload services. In November 2012, the Company acquired A&A Express.
More Posts by this author
- Market Update After Hours December 26
- Stocks Finish Lower on Cliff Worries
- Gold Prices Edge Higher; Silver Prices also Gain
- Stocks Headed for a Lower Finish
- Stocks Swing into Red Territory
- BD – BDX – Acquisition of Safety Syringes
- Renren – RENN – Announces Renewal of Share Repurchase Program
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|
