Roadrunner Transportation Systems buys D&E Transport
D&E Transport has been acquired by Roadrunner Transportation Systems
Roadrunner Transportation Systems might have hired merger and acquisition consultants to assist it in the purchase of all of D&E Transport's outstanding capital stock.
This deal cost $11.2 million (£6.97 million), as well as an earn-out, with funding coming from borrowings through the credit facilities of Roadrunner.
Flatbed carrier D&E is primarily focused on agricultural products and food and is headquarter in Clearwater, Minnesota.
Purchasing the firm is expected to broaden Roadrunner's services offerings, boost its customer base and expand its flatbed capacity, chief executive officer of Roadrunner Mark DiBlasi said.
"D&E's principal former owner and experienced management team will remain in place and are excited about the growth opportunities we collectively envision," he added.
The representative noted the acquisition will provide his firm with D&E's "solid, long-term customer relationships".
On February 24th of this year, Roadrunner also acquired New Hampshire-based Capital Transportation Logistics, with the purchase price set at $6.25 million.
Posted by David Gleck
Source: Roadrunner press release, April 19th