Roadrunner acquires Capital Transportation Logistics
Roadrunner Transportation Systems, an asset-light transportation and logistics services provider, has announced that it has acquired all of the outstanding capital stock of Capital Transportation Logistics (Capital), a provider of transportation management solutions (TMS) located in Nashua, New Hampshire.
The purchase price of $6.25m was financed with borrowings under Roadrunner’s credit facility.
Capital is a non-asset based TMS provider offering primarily transportation management solutions on less-than-truckload freight, in addition to truckload brokerage and freight bill audit and payment services. The company serves its customers using a web-based system that allows clients to optimize carrier selection, dispatch and track shipments, generate invoices, create custom reports, and perform improvement analysis.
“The acquisition of Capital Transportation Logistics broadens the service offerings within our TMS business segment and expands our critical mass, freight density, and customer base in the Northeast,” said Mark DiBlasi, CEO of Roadrunner. “Capital has built solid customer relationships with mid-sized and large shippers by providing robust, user-friendly technology solutions, access to consistently competitive rates, and an ability to drive continuous operating improvements.”
In 2011, Capital Transportation Logistics generated net revenues of approximately $6m.