Asset-light trucking and logistics services providers Roadrunner Transportation System has announced it has acquired Rich Logistics, a provider of truckload and expedited services based in Little Rock, Ark.
In addition, the Wisconsin-based Roadrunner acquired Everett Transportation and certain assets of Keith Everett. The total enterprise value of the transaction was approximately $48 million, according to Roadrunner.
Rich Logistics transports product throughout the United States and Mexico utilizing a combination of independent contractors and employee drivers. Everett is a contractor operating exclusively for Rich Logistics.
"The acquisition of Rich Logistics provides an excellent opportunity to expand our truckload offering and broadens our access to freight going into and coming out of Mexico,” said. Mark DiBlasi, president and CEO of Roadrunner. “Both Rich Logistics' and Everett's management teams will stay in place to help achieve the growth opportunities that we collectively envision."
In 2013, Rich Logistics generated revenues of approximately $113 million.
Over the past year Roadrunner has made several purchases including Yes Trans, a refrigerated truckload service provider based in Salisbury, Mass; G.W. Palmer Logistics, a non-asset truckload service provider based in Batesville, Ark. and certain of the assets of the Southeast drayage division of Transport Corporation of America.