Roadrunner Transportation Systems Announces Acquisition of Direct Connection Transportation
Roadrunner Transportation Systems (NYSE: RRTS) announced today that it has acquired all of the outstanding stock of Direct Connection Transportation (“DCT”), a non-asset truckload service provider based in Phoenix. The purchase price was approximately $1.3 million and the acquisition was financed with cash on hand.
Mark DiBlasi, President and CEO of Roadrunner, said, “The DCT acquisition enhances our truckload service offering in the South West region due to its concentration in temperature controlled products. DCT's former owner will remain in place and is excited about the growth opportunities we collectively envision. We look forward to supporting and expanding DCT's strong customer relationships and service record as we expand the business.”
During calendar year 2011, DCT generated approximately $8 million in revenues. DCT is expected to be accretive to Roadrunner's earnings in 2013.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.