Roadrunner Transportation Systems completed its divestiture of all truckload segment businesses. Additionally, the company ended its existing senior secured credit facility and entered a new $45 million senior secured asset-based credit facility with Crystal Financial.
Roadrunner Transportation Systems terminated its existing senior secured credit facility with BMO Bank Harris in connection with its plans to spin off Ascent Global Logistics as a stock dividend to stockholders.
Roadrunner Transportation Systems reduced its revolving line of credit from $400 million to $300 million. U.S. Bank served as administrative agent, swing line lender and LC issuer.
Roadrunner Transportation has acquired Rich Logistics in a transaction valued at $48 million. The company said it will finance the acquisition with borrowings under its credit facility with a lender group led by U.S. Bank as agent.