Roadrunner Transportation Systems acquired all of the outstanding stock of The James Brooks Co., a provider of intermodal transportation and related services to the ports of Los Angeles/Long Beach and Oakland.
James Brooks transports primarily fresh produce including citrus, vegetables, fruit and nuts. The purchase price was approximately $7.5 million and was financed with borrowings under Roadrunner's credit facility.
James Brooks has as many as 70 trucks running, depending on the season. About 80% are owner-operated, Roadrunner said.
During calendar year 2010, James Brooks earned about $12 million in revenues with operating margins in excess of 10%. James Brooks is expected to be accretive for Roadrunner's balance of 2011 and beyond.
According to Stifel Nicolaus Transportation & Logistics Research Group, Roadrunner will likely continue to grow over the next few years.
James Brooks transports primarily fresh produce including citrus, vegetables, fruit and nuts. The purchase price was approximately $7.5 million and was financed with borrowings under Roadrunner's credit facility.
James Brooks has as many as 70 trucks running, depending on the season. About 80% are owner-operated, Roadrunner said.
During calendar year 2010, James Brooks earned about $12 million in revenues with operating margins in excess of 10%. James Brooks is expected to be accretive for Roadrunner's balance of 2011 and beyond.
According to Stifel Nicolaus Transportation & Logistics Research Group, Roadrunner will likely continue to grow over the next few years.
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