Roadrunner Transportation Purchasing Active Aero Group for $115 Million
August 11, 2014
Roadrunner Transportation Systems has entered into a definitive merger agreement to acquire Active Aero Group from the investment firm Platinum Equity.
Based in Belleville, Mich., Active Aero is a supply-chain system provider focused on ground and air transportation logistics for customers with sensitive or time-critical freight, principally in the United States and Mexico.
The total purchase price is approximately $115 million in cash. The transaction is expected to close by the end of the third quarter.
Active Aero generated total revenues of approximately $265 million for the last twelve months ended June 30, according to Roadrunner.
“The ability to provide air and ground expedited services to meet customers’ total transportation needs has been a key strategic objective for Roadrunner,” said Mark DiBlasi, president and CEO of Roadrunner. “Active Aero’s strong position in the marketplace is based upon the high quality of its service offering and personnel and its unique blend of expedited services. As a result, we believe Active Aero represents an ideal match with our strategy and an excellent platform for growth in expedited services globally.”
Roadrunner is an asset-light transportation and logistics service provider offering customized and expedited less-than-truckload, truckload logistics, transportation management, intermodal, freight consolidation, inventory management, expedited services, international freight forwarding, customs brokerage and global supply chain services.