Roadrunner Transportation Announces Acquisition of The James Brooks Co.
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
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.
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