Subscribe to our free, weekly email newsletter!


RRTS acquires Marisol International, expands international services

By Jeff Berman, Group News Editor
July 26, 2013

Less than three months after announcing its most recent acquisitions, non asset-based third-party logistics services provider Roadrunner Transportation Systems Inc. (RRTS) is at it again, with the company announcing this week it has acquired all of the outstanding membership interests of Springfield, Missouri-based Marisol International LLC, a non asset-based supply chain-critical, provider of international logistics services.

RRTS said the purchase price was $66 million and an earn-out capped at $2.5 million. Company officials were not available for comment at press time, but RRTS will discuss the transaction on the company’s earnings call on Wednesday, July 31.

Marisol provides various supply chain services for shippers, including international ocean and air transportation management, customs house brokerage capabilities, and domestic logistics solutions for a diversified customer base ranging from Fortune 500 companies to small and mid-market enterprises, according to RRTS. Established in 2002, Marisol had revenues of $95 million and net revenues of $20 million for the year ended December 31, 2012.

“As we have indicated, one of our key strategic objectives in 2013 is broadening our international capabilities to meet our customers’ total transportation and logistics needs,” said Mark DiBlasi, President and CEO of Roadrunner, in a statement. “Many of our existing 35,000 customers import and export raw materials, purchased components, and finished products. Marisol represents an ideal fit both strategically and culturally.  The addition of Marisol will enable us to provide a comprehensive, global supply chain solution to our combined customer base. We will be able to handle full- and less-than container load shipments from origin to destination on a global basis for both refrigerated and dry freight.”

In early May, RRTS brought two new companies into the fold: Adrian Carriers, a Milan, Illinois-based logistics service provider focusing on container management and intermodal, and Wando Trucking, a Charleston, South Carolina-based provider of intermodal services and related services in the Southeast.

These acquisitions—and Marisol this week acquisitions RRTS mark the mark the ninth and tenth and 11th RRTS has made going back to 2011 and they mark the first ones since its December 2012 public offering of 3,500,000 shares of common stock at a price of $17.25 per share to the public.

Robert W. Baird & Co. analyst Ben Hartford wrote in a research note that Roadrunner’s expansion into international services is a key ingredient for the company in achieving its long-term, five-year revenue target of $3-4 billion (from a base of $1.1 billion in 2012).

“With Marisol’s platform coupled with RRTS’ existing portfolio, we suspect RRTS’ acquisition strategy moving forward will be largely focused on adding density to existing product verticals,” Hartford wrote.

About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Panjiva, an online search engine with detailed information on global suppliers and manufacturers, recently said it is opening up the “vault,” so to speak. The vault in this case is making its copious amount of trade data accessible through an Application Programming Interface (API), which enables customers to extract Panjiva’s trade data into their own database.

Freight transportation and logistics services provider Averitt Express recently announced it has rolled out improved transit times for less-than-truckload (LTL) service from the Midwest to Toronto and other cities.

Data issued by the National Retail Federation lowered its 2014 retail sales forecast, due to a slow first six months of the year (and largely negatively influenced by the terrible winter weather), but noted that retail sales are expected to be strong over the next five months to finish the year.

Anne Ferro, a ferocious advocate for greater truck safety and a constant thorn to truck drivers and some unsafe trucking fleets, says she is leaving as administrator of the Federal Motor Carrier Safety Administration. No successor has been immediately named.

Data issued by the National Retail Federation lowered its 2014 retail sales forecast, due to a slow first six months of the year (and largely negatively influenced by the terrible winter weather), but noted that retail sales are expected to be strong over the next five months to finish the year.

Article Topics

News · 3PL · RRTS · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA