Roadrunner acquires two refrigerated trucking companies
Roadrunner Transportation Systems has acquired R&M Transportation and Sortino Transportation, providers of truckload services based in Omaha, Nebraska, for approximately $24.4m, plus an earn-out capped at $5m.
R&M and Sortino transport primarily refrigerated product throughout the US utilizing a combination of independent contractors and a fleet of company-owned trailers.
Mark DiBlasi, President and CEO of Roadrunner, said, “The acquisition of R&M and Sortino expands our refrigerated capacity in key lanes and broadens our customer base. In addition, R&M and Sortino’s Midwest presence enables us to more effectively cross-sell our truckload services because of their superior service and solid, long-term customer relationships. R&M and Sortino’s principal former owners and experienced management team will remain in place and are excited about the growth opportunities we collectively envision.”
In 2011, R&M and Sortino together generated revenues of approximately $64.5m.