Roadrunner Transportation Systems has acquired substantially all of the assets of YES Trans, a refrigerated truckload service provider based in Salisbury, Mass.
YES Trans primarily transports meat and produce between the Northeast and the Midwest and Southeast. The purchase price was approximately $1.2 million, net of cash acquired, plus an earn-out capped at $1.1 million. The acquisition was financed with Roadrunner’s cash on hand.
“The YES acquisition enhances our refrigerated truckload service offering in the Northeast due to its concentration in temperature-controlled products,” said Brian Van Helden, president of Roadrunner’s truckload logistics division, in a written statement. “We will incorporate the YES operations into our existing Massachusetts refrigerated location and are excited about the growth opportunities we collectively envision.”
During calendar year 2012, YES generated revenue of about $5 million. YES is expected to be accretive to Roadrunner’s earnings in the near term. Roadrunner’s profit and revenue soared in the second quarter of 2013, boosted by other acquisitions this year. The company, No. 15 on JOC’s list of the Top 25 Less-Than-Truckload Carriers, also recently acquired G.W. Palmer Logistics and TA Drayage.