Universal acquires Roadrunner Intermodal Services
WARREN, Mich.—Universal Logistics Holdings, Inc., an asset-light provider of transportation and logistics solutions, has acquired Roadrunner Intermodal Services, LLC, Morgan Southern, Inc. from Roadrunner Transportation Systems, Inc.
Roadrunner Intermodal is a drayage provider, servicing major port and rail locations throughout the US. Operating a fleet of over 700 tractors, Roadrunner Intermodal services customers utilizing a mix of company-owned and owner-operator provided capacity. For the 12-month period ending September 30, 2019, Roadrunner Intermodal reported total operating revenues of $125 million.
Universal, which operates in Canada, the US, Mexico and Colombia, expects its intermodal drayage business to operate an estimated fleet of over 2,500 tractors, do business from 49 terminals and produce future annual revenues in excess of $500 million.
Universal anticipates that Roadrunner Intermodal will operate as a subsidiary of Universal Intermodal, Inc. The transaction should be immediately accretive to Universal’s earnings per share and cash flow.