Roadrunner acquires Expedited Freight Systems
Roadrunner Transportation Systems, announced that it has acquired Expedited Freight Systems (EFS), a Midwest regional overnight less-than-truckload (LTL) provider based in Kenosha, Wisconsin for approximately $10m. EFS has 12 terminal locations throughout the upper Midwest, which enables it to provide overnight services to its customers.
Scott Dobak, President of Roadrunner’s LTL group, added, “EFS’ terminal footprint and service offering align perfectly with our Midwest terminal network with limited overlap. Historically, Roadrunner’s Midwest regional service was principally outbound from Chicago to our existing Midwest terminal regions. Collectively, we will be able to offer our customers enhanced overnight services throughout the Midwest.”
In 2011, EFS generated revenues of approximately $19m. EFS is expected to be accretive to Roadrunner’s earnings in the fourth quarter of 2012.