US transport and logistics company Roadrunner Transportation Systems (RRTS) has acquired all the outstanding stock of A&A Express, a provider of truckload services based in South Dakota.
The deal is valued at about $24 million, plus an earn-out capped at $2.5 million. The acquisition was financed with borrowings under Roadrunner’s credit facility, the company said.
“The acquisition of A&A expands our refrigerated capacity in key lanes and broadens our customer base,” Mark DiBlasi, President and Chief Executive officer of Roadrunner, said.
“In addition, A&A’s Midwest presence enables us to more effectively cross-sell our truckload services because of their superior service and solid, long-term customer relationships.
“A&A’s principal former owners will remain in place and are excited about the growth opportunities we collectively envision.”
A&A transports primarily refrigerated product throughout the US using independent contractors and employee drivers.
The announcement comes a week after Roadrunner also acquired Central Cal Transportation, a provider of intermodal transportation and related services in northern California.