U.S. Bank Facility Used to Support Roadrunner Acquisition
Roadrunner Transportation Systems announced it has acquired Rich Logistics, a provider of truckload and expedited services based in Little Rock, AK. In addition, Roadrunner said it acquired Everett Transportation and certain assets of Keith Everett.
The total enterprise value of the transaction was approximately $48 million. Rich Logistics transports product throughout the U.S. and Mexico utilizing a combination of independent contractors and employee drivers. Everett is a contractor operating exclusively for Rich Logistics.
Roadrunner said the acquisition was financed with borrowings under its credit facility, which according to related 8-K filing, consists of a $175 million term loan and a $200 million revolver provided lender group led by U.S. Bank as administrative agent, swing line lender and LC issuer.