Cudahy-based Roadrunner Transportation Systems Inc. announced has completed its previously announced acquisition of Belleville, Mich.-based Active Aero Group, a supply chain solutions provider specializing in sensitive or time-critical freight.
The total purchase price was approximately $115 million in cash and was funded with borrowings under Roadrunner’s credit facility.
“As we have indicated, the ability to provide air and ground expedited services to meet customers’ total transportation needs has been a key strategic objective for Roadrunner,” Mark DiBlasi, president and chief executive officer of Roadrunner, said when the acquisition was announced. “Active Aero’s strong position in the marketplace is based upon the high quality of its service offering and personnel and its unique blend of expedited services. As a result, we believe Active Aero represents an ideal match with our strategy and an excellent platform for growth in expedited services globally.”
Active Aero offers ground and air expedited services, mainly in the United States and Mexico. It uses spot bid technology, controlled capacity, a unique procurement system and multi-modal offering to efficiently meet time-critical logistics challenges.
Active Aero reported $265 million in revenue in fiscal 2014 and is expected to be accretive to Roadrunner earnings in its fourth quarter.