Roadrunner Transportation Systems announced it acquired Stagecoach Cartage and Distribution, a provider of truckload and logistics services based in El Paso, TX, for a total purchase price of $35 million, plus an earn-out capped at $5 million.
Stagecoach provides regional, intermodal, and over-the-road truckload services throughout the southwestern United States and Mexico. Stagecoach also provides warehousing and transloading solutions to customers through its network of strategically located facilities in south-central and west Texas, the company said. The acquisition was financed with borrowings under Roadrunner’s credit facility.
Mark DiBlasi, president and CEO of Roadrunner, said, “Stagecoach is an extremely high-quality company with a broad service portfolio and an experienced and motivated management team that represents an excellent platform to expand our cross-border services. Stagecoach’s strong presence within the El Paso and Laredo markets, coupled with the company’s Mexican Operating Authority, provides us with immediately realizable growth opportunities created by the accelerating demand within the region.”
Scott McLaughlin, president of Stagecoach, said, “We’re very excited to join Roadrunner. In order to achieve our growth potential, we sought to partner with a larger organization that had the resources and personnel that could assist us in accomplishing our goals. After meeting with several members of the Roadrunner team, it was clear that we shared a very similar cultural and strategic vision. Our organization is confident that as a part of Roadrunner, we can meet and exceed our collective goals.”