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Roadrunner Transportation Systems, Inc.
RRTS announced today that it
has acquired all of the outstanding stock and the Charleston, South Carolina
property of Wando Trucking, a provider of intermodal
transportation and related services in the Southeast. Wando primarily
transports imports and exports including raw rubber, building materials,
paper, and plastics from the ports of Charleston, South Carolina and
Savannah, Georgia. The purchase price was approximately $9.0 million. The
acquisition was financed with borrowings under Roadrunner's credit facility.
Brian van Helden, President of Roadrunner's Truckload and Logistics business
segment, said, "The Wando acquisition enhances the scale of our intermodal
services in the Southeast and provides better access to the ports of
Charleston and Savannah. We look forward to supporting and expanding Wando's
strong customer relationships and service record as we pursue continued
growth in the business."
During calendar year 2012, Wando generated approximately $13.0 million in
revenues. Wando is expected to be accretive to Roadrunner's earnings in
2013.
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