Universal Truckload Services to acquire LINC Logistics Co.

Universal Truckload Services announced that it will acquire LINC Logistics Co., an asset-light provider of custom-developed third-party logistics solutions, in a stock-for-stock transaction valued at approximately $335 million, including the assumption of debt. The combination of Universal and LINC creates one of the largest full-service, asset-light logistics platforms in North America, according to a company announcement.

LINC primarily provides value-added logistics services to the automotive and manufacturing industries, but also provides dedicated truckload, expedited, and freight forwarding services to customers at 43 locations throughout North America.

Universal’s trucking services include both flatbed and dry van operations and Universal provides rail-truck and steamship-truck intermodal support services. Universal also offers truck brokerage services.

“The combination of Universal and LINC creates one of the largest full-service, asset-light logistics platforms in North America and significantly enhances our long-term growth profile,” said Donald Cochran, Universal president & CEO. “We expect that the addition of LINC’s strong business relationships, contractually based revenue streams, and significant margins will enable us to sell a more comprehensive suite of services to our customers, diversify our business mix, and drive earnings per share growth. We are very excited about the opportunities this transaction will provide Universal going forward.”

“LINC is very excited about our new partnership with Universal. We believe that the additional resources we will gain through this combination will enable us to achieve our collective growth goals more expeditiously,” said H.E. “Scott” Wolfe, LINC president & CEO.

Until the closing of this transaction, the management structure of Universal and LINC will remain the same. Following the closing, Scott Wolfe is expected to assume the role of CEO of the combined company. Don Cochran is expected remain president of Universal, and is expected to also become the vice chairman of the company. David Crittenden is expected to become the CFO of Universal following this transaction. Bob Sigler is expected to become the executive vice president of the company.

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