Roadrunner Transportation Systems Inc (NYSE: RRTS) has acquired all of the outstanding stock of A&A Express, a provider of truckload services based in Brandon SD, for a total enterprise value of approximately $24.0 million, plus an earn-out capped at $2.5 million.
A&A transports primarily refrigerated product throughout the United States using a combination of independent contractors and employee drivers. The acquisition was financed with borrowings under Roadrunner’s credit facility.
Mark DiBlasi, president and chief executive officer of Roadrunner, said, “The acquisition of A&A expands our refrigerated capacity in key lanes and broadens our customer base. 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 & Logistics business segment.
In 2011, A&A generated revenues of about $39.3 million. The company is expected to be accretive to Roadrunner’s earnings in 2013.
For more information, visit www.rrts.com.
