William B. Cassidy, Senior Editor | Jun 05, 2012 10:40AM EDT
Roadrunner Transportation Systems strengthened its truckload division by acquiring CTW Transport, a refrigerated food hauler in Peabody, Mass.
Cudahy, Wis.-based Roadrunner was the fastest growing carrier among the 50 largest U.S. trucking companies in 2011, according to SJ Consulting Group data.
The $7.5 million purchase of $15 million CTW is the seventh acquisition in the past year for Roadrunner, a truckload and less-than-truckload carrier.
Roadrunner, the largest “asset-light” LTL carrier, is ramping up truckload operations, increasing truckload revenue 90 percent last year to $301.3 million.
Roadrunner increased total revenue last year 33.5 percent to $843.6 million. Acquisitions played a major role in Roadrunner’s rapid truckload growth.
In April, Roadrunner acquired D&E Transport, a flat bed carrier. In February, Roadrunner purchased Capital Transportation Logistics in Nashua, N.H.
Last year, Roadrunner acquired Prime Logistics, intermodal specialist The James Brooks Co., M. Bruenger Trucking and drayage company Morgan Southern.
CTW has about 20 trucks and drivers and hauls dry and refrigerated freight, according to its latest registration filing with the Department of Transportation.
Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter at @wbcassidy_joc.
