Roadrunner Transportation Systems
acquired all of the outstanding capital stock of Capital Transportation Logistics
, located in Nashua, N.H. The purchase price of $6.25 million was financed with borrowings under Roadrunner's credit facility.
CTL is a non-asset based TMS provider offering primarily transportation management solutions on less-than-truckload freight, in addition to truckload brokerage and freight bill audit and payment services. CTL uses a Web-based system that allows clients to optimize carrier selection, dispatch and track shipments, generate invoices, create custom reports, and perform improvement analysis.
"The acquisition of CTL broadens the service offerings within our TMS business segment and expands our critical mass, freight density, and customer base in the Northeast," says Mark DiBlasi, CEO of Roadrunner. "CTL has built solid customer relationships with mid-sized and large shippers by providing robust, user-friendly technology solutions, access to consistently competitive rates, and an ability to drive continuous operating improvements."
In 2011, CTL generated net revenues of approximately $6 million.