Roadrunner Transportation Systems Inc. acquired Rich Logistics, a move that expanded Roadrunner's service portfolio in the transportation and logistics sector.
Details of the Acquisition
Roadrunner Transportation Systems Inc. (NYSE: RRTS), an asset-light transportation and logistics services provider, completed the acquisition of Rich Logistics. Rich Logistics, based in Little Rock, Arkansas, specializes in providing truckload and expedited services. This acquisition was part of Roadrunner's strategic efforts to enhance its service capabilities and market footprint.
In addition to acquiring Rich Logistics, Roadrunner also acquired Everett Transportation Inc. and certain assets of Keith Everett (collectively, “Everett”). These combined acquisitions were aimed at strengthening Roadrunner's overall position in the logistics industry by offering a more comprehensive range of transportation solutions.
Key Aspects of the Acquisition:
- Acquirer: Roadrunner Transportation Systems Inc. (NYSE: RRTS)
- Acquired Entity: Rich Logistics
- Rich Logistics' Core Business: Provider of truckload and expedited services
- Location of Rich Logistics: Little Rock, Arkansas
- Concurrent Acquisitions: Roadrunner also acquired Everett Transportation Inc. and certain assets of Keith Everett.
This strategic expansion through mergers and acquisitions is a common practice in the logistics industry, allowing companies like Roadrunner to consolidate market share, diversify services, and improve operational efficiencies to better serve their clientele.
