February 25, 2018 11:42 AM ET

Road and Rail

Company Overview of Landstar System Holdings, Inc.

Company Overview

Landstar System Holdings, Inc., through its subsidiaries, provides transportation services in the United States, Canada, and Mexico. The company operates through three segments: Carrier, Global Logistics, and Insurance. The Carrier segment provides transportation services to the truckload market for various general commodities over irregular or non-repetitive routes utilizing dry and specialty vans and unsided trailers, including flatbed, drop deck, and specialty, as well as provides short-to-long haul movement of containers by truck, dedicated power-only truck capacity, and truck brokerage. The Global Logistics segment provides transportation and logistics services, which include the arrang...

13410 Sutton Park Drive South

Jacksonville, FL 32224

United States

Founded in 1988

Phone:

904-398-9400

Fax:

904-390-1437

Key Executives for Landstar System Holdings, Inc.

Landstar System Holdings, Inc. does not have any Key Executives recorded.

Landstar System Holdings, Inc. Key Developments

Landstar System, Inc. and Landstar System Holdings, Inc. Enters into A Senior Credit Facility with Jpmorgan Chase Bank, N.A

On June 2, 2016, Landstar System, Inc. and its wholly owned subsidiary, Landstar System Holdings, Inc. entered into a senior credit facility with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders named therein, in the form of a five-year $250 million revolving credit agreement (with an accordion feature providing for possible increase up to an aggregate amount of $400 million) (the credit agreement) to refinance their existing credit facility (the existing credit facility). The new credit facility will expire in June 2021. As of June 2, 2016, there were no outstanding borrowings under the existing credit facility, which has been terminated, and there are no outstanding borrowings under the credit agreement. Borrowings under the credit agreement are unsecured, however, all but two of the company's subsidiaries guarantee the obligations under the credit agreement. The credit agreement contains a number of covenants that limit, among other things, the incurrence of additional indebtedness and the incurrence of operating or capital lease obligations. The credit agreement also requires the company to meet certain financial tests. The company is required to, among other things, maintain a minimum fixed charge coverage ratio and limit its borrowings to a specified leverage ratio of indebtedness to earnings before interest, taxes, depreciation and amortization, as each is defined in the credit agreement. The credit agreement provides for an event of default in the event, among other things, that a person or group acquires 35% or more of the outstanding capital stock of the company, obtains the power to elect a majority of the company's directors, or the directors cease to consist of a majority of continuing directors, as defined in the credit agreement.

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Recent Private Companies Transactions

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