Roadrunner Transportation Systems Announces Acquisition of Unitrans
CUDAHY, Wis. -- March 14, 2014
Roadrunner Transportation Systems, Inc. (NYSE: RRTS) announced today that it
has acquired all of the outstanding stock of Unitrans International
Corporation, a leading high-quality, non-asset based provider of international
logistics solutions based in Los Angeles, California. The total purchase price
of $55.5 million was financed by borrowings under Roadrunner’s credit
facility. Unitrans offers its customers international ocean and air
transportation management, customs house brokerage, and domestic logistics
solutions, with a focus on complex, cold chain, and high value shipments.
Mark DiBlasi, President and CEO of Roadrunner, said, “As we have indicated,
one of our key strategic objectives is expanding our international
capabilities to meet our customers’ total transportation and logistics needs.
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.
“Unitrans has an excellent leadership team led by Andrew Schadegg and Chris
Amberg. Andrew and Chris have been integral in defining Unitrans’ strategy and
shaping its culture, and will remain in place to help us realize growth in our
In 2013, Unitrans generated revenues of approximately $84 million. Unitrans is
expected to be accretive to Roadrunner’s earnings in 2014.
About Roadrunner Transportation Systems, Inc.
Roadrunner is a leading asset-light transportation and logistics service
provider offering a full suite of solutions, including customized and
expedited less-than-truckload, truckload logistics, transportation management
solutions, intermodal solutions, freight consolidation, inventory management,
expedited services, international freight forwarding, customs brokerage, and
comprehensive global supply chain solutions. For more information, please
visit Roadrunner’s website, www.rrts.com.
Safe Harbor Statement
This release contains forward-looking statements that relate to future events
or performance, including statements regarding Unitrans’ service offerings,
the diversification and expansion of Roadrunner’s service offerings by the
addition of Unitrans; Roadrunner’s strategic objectives, including expanding
its international capabilities; the growth in Roadrunner’s international
platform; and Roadrunner’s expectation that Unitrans will be accretive to
Roadrunner’s earnings in 2014. These statements reflect Roadrunner's current
expectations, and Roadrunner does not undertake to update or revise these
forward-looking statements, even if experience or future changes make it clear
that any projected results expressed or implied in this or other company
statements will not be realized. Furthermore, readers are cautioned that these
statements involve risks and uncertainties, many of which are beyond
Roadrunner's control, which could cause actual results to differ materially
from the forward-looking statements. These risks and uncertainties include,
but are not limited to, risks related to the integration of acquired
companies, competition in the transportation industry, the impact of the
current economic environment, Roadrunner's dependence upon purchased power,
the unpredictability of and potential fluctuation in the price and
availability of fuel, the effects of governmental and environmental
regulations, insurance in excess of prior experience levels, and other "Risk
Factors" set forth in Roadrunner's most recent SEC filings.
Roadrunner Transportation Systems, Inc.
Chief Financial Officer
Vollrath Associates, Inc.
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