Roadrunner Transportation Systems bolstered its less-than-truckload business by acquiring Expedited Freight Systems for approximately $10 million.
EFS, which had about $19 million in revenue in 2011, specializes in overnight delivery of LTL shipments in the upper Midwest through a network of 12 terminals. The carrier is based in Kenosha, Wis., while Roadrunner is in Cudahy, Wis.
“EFS’ terminal footprint and service offering align perfectly with our Midwest terminal network with limited overlap,” said Scott Dobak, president of Roadrunner’s LTL group. The acquisition will enhance service “throughout the Midwest.”
Roadrunner has been on a buying binge over the past year, buying 10 companies and spending $208 million on acquisitions in the first six months of 2012.
The $844 million carrier was the fastest growing company among the 50 largest U.S. trucking companies in 2011, according to SJ Consulting Group.
Most of the acquisitions were aimed at strengthening Roadrunner’s truckload business. Roadrunner increased truckload revenue 61.6 percent year-over-year in the second quarter to $111 million, 42
percent of its $262.5 million total revenue.
Earlier in August, Roadrunner acquired two refrigerated truckload carriers, R&M Transportation and Sortino Transportation. In June, Roadrunner purchased CTW Transport, a refrigerated truckload operator based in New England.
Outside the EFS acquisition, most of Roadrunner’s LTL expansion has been organic. The company opened two LTL terminals in the Northeast in May. LTL revenue rose 6.9 percent from a year ago in the second quarter to $129.7 million.