Roadrunner Transportation Systems Inc (NYSE: RRTS) has acquired substantially all of the assets of YES Trans Inc, a refrigerated truckload service provider based in Salisbury MA.
YES primarily transports meat and produce between the Northeast and the Midwest and Southeast. The purchase price was approximately $1.2 million, net of cash acquired, plus an earn-out capped at $1.1 million. The acquisition was financed with Roadrunner’s cash on hand.
Brian Van Helden, president of Roadrunner’s Truckload Logistics division, said, “The YES acquisition enhances our refrigerated truckload service offering in the Northeast due to its concentration in temperature-controlled products. We will incorporate the YES operations into our existing Massachusetts refrigerated location and are excited about the growth opportunities we collectively envision. We look forward to supporting and expanding YES’s strong customer relationships and service record as we continue to grow the business.”
During calendar year 2012, YES generated approximately $5 million in revenues. The company is expected to be accretive to Roadrunner’s earnings in the near term.
For more information, visit www.rrts.com.