Cudahy-based Roadrunner Transportation Systems Inc. announced today that it has acquired all of the outstanding stock of Central Cal Transportation, a Fresno, Calif.-based provider of intermodal transportation and related services.
Central Cal transports primarily nuts, wine and retail import products. The purchase price was approximately $4 million plus an earnout. The acquisition was financed with borrowings under Roadrunner’s credit facility.
Mark DiBlasi, president and chief executive officer of Roadrunner, said, “The Central Cal acquisition substantially enhances the scale and critical mass of our drayage operations in the West Coast region. 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. We look forward to supporting and expanding Central Cal’s strong customer relationships and service record as we pursue continued growth in the business.”
During calendar year 2011, Central Cal generated approximately $19 million in revenues. Central Cal is expected to be accretive to Roadrunner’s earnings in 2013.