Roadrunner Transportation Systems has acquired all the outstanding stock of A&A Express, a provider of refrigerated truckload services based in Brandon, S.D.
The deal is valued at about $24 million, plus an earn-out capped at $2.5 million. The acquisition was financed with borrowings under Roadrunner’s credit facility, the company said.
“The acquisition of A&A expands our refrigerated capacity in key lanes and broadens our customer base,” said Mark DiBlasi, president & CEO of Roadrunner. “In addition, A&A’s Midwest presence enables us to more effectively cross-sell our truckload services because of their superior service and solid, long-term customer relationships. A&A’s principal former owners will remain in place and are excited about the growth opportunities we collectively envision.”
“A&A’s operating network and high quality fleet are an excellent complement to our existing Truckload Services platform and will provide immediate growth opportunities in our refrigerated offering,” said Brian van Helden, president of Roadrunner’s truckload and logistics business segment.
The announcement comes a week after Roadrunner said it bought Central Cal Transportation, a provider of intermodal transportation and related services in northern California.
“The Central Cal acquisition substantially enhances the scale and critical mass of our drayage operations in the West Coast region,” DiBlasi said. “In addition, the seasonality of Central Cal's freight mix complements our existing intermodal business, which we believe will enhance our driver utilization and retention.”
