Cudahy-based Roadrunner Transportation Systems Inc. has acquired all of the outstanding capital stock of D&E Transport, an asset-light flatbed carrier focused primarily on food and agricultural products located in Clearwater, Minn., for approximately $11.2 million plus an earnout.
The acquisition was financed with borrowings under Roadrunner’s credit facility.
“The acquisition of D&E broadens the service offerings within our Truckload & Logistics business segment and expands our flatbed capacity and customer base,” said Mark DiBlasi, chief executive officer of Roadrunner. “D&E has built solid, long-term customer relationships and brings superior service and safety records to Roadrunner. D&E’s principal former owner and experienced management team will remain in place and are excited about the growth opportunities we collectively envision.”
“D&E is very complementary to our Truckload & Logistics platform,” said Brian van Helden, president of Roadrunner’s Truckload & Logistics business segment. “We are excited about the opportunity to serve D&E’s customer base and to accelerate our growth and geographic expansion.”
In 2011, D&E generated revenues of approximately $23.8 million. D&E is expected to be accretive to Roadrunner’s earnings in 2012.
