Hub Group Acquires Exel Transportation Services

April 04, 2011

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Hub Group has purchased Exel Transportation Services for $83 million before post-closing adjustments. ETS is now a wholly owned subsidiary of Hub Group, operating independently under the name Mode Transportation.

Mode Transportation consists of about 300 IBOs who sell and operate the business throughout North America, with corporate offices in Dallas and Memphis, a company-managed operation in Dallas and a temperature-protected services division, Temstar, in Lombard, Ill. Mode Transportation's sales for 2010 were approximately $717 million. The largest components were: intermodal revenue of $294 million, truck brokerage revenue of $279 million, and LTL revenue of $85 million.

Key leadership, including President Jim Damman, will continue in their current roles with Mode Transportation. Mode Transportation will remain headquartered in Dallas.

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