Roadrunner Transportation Buys Rich Logistics

(RTTNews) - Roadrunner Transportation Systems, Inc. (RRTS) said Monday that it had acquired Rich Logistics, a provider of truckload and expedited services based in Little Rock, Arkansas.

In addition, Roadrunner acquired Everett Transportation Inc. and certain assets of Keith Everett. The total enterprise value of the transaction was about $48 million.

Rich Logistics transports product throughout the United States and Mexico utilizing a combination of independent contractors and employee drivers. Everett is a contractor operating exclusively for Rich Logistics. The acquisition was financed with borrowings under Roadrunner's credit facility.

In 2013, Rich Logistics generated revenues of approximately $113 million. Rich Logistics is expected to be accretive to Roadrunner's earnings in 2014.