William B. Cassidy | Jun 01, 2011 10:56AM EDT
Roadrunner Transportation Systems acquired M. Bruenger Trucking, a truckload carrier with headquarters in Wichita, Kans., for approximately $10.6 million.
The transaction also includes an earn-out capped at $3 million, Roadrunner said. Bruenger’s former owner and management team will stay with the operation.
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The earn-out will be paid if Bruenger hits certain performance targets.
Bruenger brings Roadrunner additional capacity and broadens its geographic network, said Mark DiBlasi, president and CEO of the Cudahy, Wis.-based trucker.
The carrier’s Midwest coverage and its East-West traffic will the predominantly LTL carrier more effectively cross-sell its truckload services, DiBlasi said.
Roadrunner isn’t the first company to consider buying Bruenger, a $23 million carrier. Florida-based Integrated Freight attempted to buy Bruenger last year.
Acquisitions can help carriers expand capacity by buying existing operations and customer relations without adding new vehicles to their core fleets.
In January, Roadrunner acquired drayage operator Morgan Southern.
-- Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter @wbcassidy_joc.