M&A Summary

Universal Truckload Services to acquire LINC Logistics

Universal Truckload Services announced that it will acquire LINC Logistics Company in a stock-for-stock transaction valued at approximately $335m, including the assumption of debt.
LINC is an asset-light provider of third-party logistics solutions. LINC primarily provides value-added logistics services to the automotive and manufacturing industries, but also provides dedicated truckload, expedited, and freight forwarding services to customers throughout North America. LINC manages or provides its services at 43 locations throughout the US, Mexico, and Canada. In the twelve months ended March 31, 2012, LINC generated $301m of revenue and $49m of adjusted EBITDA.
“The combination of Universal and LINC creates one of the largest full-service, asset-light logistics platforms in North America and significantly enhances our long-term growth profile,” said Universal President and Chief Executive Officer Donald Cochran. “We expect that the addition of LINC’s strong business relationships, contractually-based revenue streams, and significant margins will enable us to sell a more comprehensive suite of services to our customers, diversify our business mix, and drive earnings per share growth. We are very excited about the opportunities this transaction will provide Universal going forward.”

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