Roadrunner Transportation Systems has announced the acquisition of fellow US transport company, G.W. Palmer Logistics. The purchase price was approximately US $2.5 million (€1.9 million), plus an earn-out capped at $2.8 million (€2.1 million).
“The G.W. Palmer acquisition enhances our truckload service offering in the South due to its concentration in temperature controlled products,” said Mark DiBlasi, President and CEO of Roadrunner.
“G.W. Palmer’s management team will remain in place and are excited about the growth opportunities we collectively envision. We look forward to supporting and expanding G.W. Palmer’s strong customer relationships and service record as we expand the business.”
During the 2012 calendar year, G.W. Palmer generated approximately $20 million (€15 million) in revenues. G.W. Palmer is expected to be accretive to Roadrunner’s earnings in the near term.