RRTS Acquisition of Prime Logistics Corp

Extracted 07SEP2011 from http://www.logisticsmgmt.com/article/3pl_news_rrts_completes_acquisition_of_p...

Non asset-based third-party logistics services provider Road Runner Transportation Services (RRTS) said it has officially closed its acquisition of the outstanding stock of Prime Logistics Corporation for roughly $97.5 million...

As a non asset-based provider of logistics and freight consolidation, Prime had roughly $67.5 million in 2010 revenues. Its customers are primarily made up of food producers who ship more than 1 billion pounds of product to retailers, distributors, and warehouses. Prime has more than 2 million square-feet of facilities, with its service menu comprised of freight consolidation, inventory management, warehousing, order fulfillment, and less-than-truckload and truckload services...

This deal follows recent acquisitions made by RRTS, including: February’s acquisition of Morgan Southern, a privately-held provider of intermodal transportation and related services for roughly $20 million; May’s acquisition of Wichita, Kansas-based truckload services provider Bruenger Trucking Company; and July’s acquisition of The James Brooks Company is a provider of intermodal transportation and related services for the ports of Los Angeles/Long Beach and Oakland.