Roadrunner Buys Morgan Southern

Roadrunner Transportation Systems, Cudahy, Wis., has acquired all of the outstanding stock of Morgan Southern Inc. for approximately $20 million in cash.

Morgan Southern is a privately held provider of intermodal transportation and related services. With 19 terminals located throughout the United States, Morgan Southern serves the majority of the country’s key intermodal markets. Its customer base consists primarily of direct shippers, intermodal marketing companies, steamship lines and other port and rail related transportation industries. The acquisition was financed with borrowings under RRTS’ existing credit facility.

“The Morgan Southern transaction is an excellent fit with our growth strategy,” explained Mark DiBlasi, President and CEO of RRTS. “It provides us with a new service offering within our truckload segment and further expands our geographic profile. RRTS’ sales force will serve as an extension of Morgan Southern’s sales efforts to market its intermodal services to new and existing RRTS customers. With growth in international trade and continued improvements in rail efficiency, we believe favorable trends will continue in the intermodal sector for the foreseeable future.”

Morgan Southern will continue to operate in its current capacity under the leadership of Ben Kirkland, its head of operations since 1996.

During calendar year 2010, Morgan Southern generated approximately $57 million in revenues and approximately $4 million of earnings before interest, taxes, depreciation, and amortization.

RRTS is a non-asset based transportation and logistics services provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload, transportation management solutions and intermodal solutions, and domestic and international air.

Printer Friendly Version
Email This Story
RSS
Bookmark and Share

Fleets: Related News

2/4/2011 – Roadrunner Buys Morgan Southern

Roadrunner Transportation Systems, Cudahy, Wis., has acquired all of the outstanding stock of Morgan Southern Inc. for approximately $20 million in cash….
More

2/3/2011 – UPS 4th Quarter Earnings Surge; All-Time High Predicted for 2011

UPS announced adjusted better-than-expected earnings this week for the fourth quarter of 2010….
More

2/3/2011 – Con-way Reports Improved Quarterly, Full-Year Results


Con-way Inc. reported net income for the fourth quarter of 2010 of $2.4 million, or 4 cents per diluted share. The results compare to a fourth-quarter 2009 net loss of $1.9 million, or 4 cents per diluted share….
More

2/3/2011 – Old Dominion Freight Line Fourth-Quarter Earnings Up 127 Percent

Old Dominion Freight Line reported its fourth-quarter 2010 revenue increased 28.3% to $399 million from $310.9 million for the fourth quarter of 2009, while net income was $22.1 million, up 127.8% from $9.7 million for the fourth quarter of 2009….
More

2/2/2011 – Landstar Reports 35 Percent Increase in Fourth Quarter Earnings Per Share

Landstar System reported 2010 fourth quarter net income of $24.1 million, or $0.50 per diluted share, compared to net income of$18.6 million, or $0.37 per diluted share, for the 2009 fourth quarter….
More

2/2/2011 – Dupre Logistics Establishes Supply Chain Division

Dupre Logistics, Lafayette, La., has opened the Supply Chain Excellence Division to help clients solve complex supply chain needs….
More

2/2/2011 – FFE Opens Driving School

FFE has opened an FFE Driver Academy in Fort Worth, Texas….
More

2/1/2011 – Interstate Transport Opens Dedicated Asset Division

On the heels of its partnership announcement with DHL Global Forwarding, Interstate Transport Inc. announced the formation of Interstate Dedicated Inc….
More

2/1/2011 – FedEx Expands LTL Offerings

FedEx Freight, a subsidiary of FedEx Corp., launched its new unified less-than-truckload network, offering customers the choice of two levels of service from a single company….
More

1/31/2011 – J.B. Hunt Reports Impressive Q4 Numbers


In its quarterly report released Friday, J.B. Hunt Transport Services said its fourth-quarter net income rose, as its trucking, intermodal and dedicated contract carriage units all reported improvement….
More

1/28/2011 – Werner Reports Higher Earnings for Quarter, Year

Werner Enterprises reported improved revenues and earnings for the fourth quarter and for 2010, with fourth-quarter profit rising 34% on higher freight demand….
More

1/28/2011 – Covenant Returns to Profitability for 2010

Covenant Transportation Group, Chattanooga, Tenn., reported improved fourth-quarter 2010 numbers compared to the fourth quarter of 2009….
More

1/28/2011 – Household Goods Movers Antitrust Settlement gets Preliminary Approval


A federal court has preliminarily approved a class action lawsuit settlement against several van lines for allegedly violating antitrust regulations. …
More

1/28/2011 – Payne Trucking Inc. Acquired by Napa Transportation, Inc.

Transport Capital Partners, LLC, is pleased to have assisted in the acquisition of certain assets of the dry van division and brokerage division of Payne Trucking, Inc., Fredericksburg, VA by NAPA Transportation, Inc., Mechanicsburg, PA….
More

1/27/2011 – Knight Reports Increased Income, Grows Fleet

Phoenix-based Knight Transportation, one of North America’s largest truckload transportation companies, saw net income increase 24 percent for the fourth quarter of 2010 compared to the same quarter of 2009….
More

1/26/2011 – Celadon Group Reports Second Fiscal Quarter Financial Results

Celadon Group, Indianapolis, reported its financial and operating results for the three and six months ended December 31, 2010, the second fiscal quarter of the company’s fiscal year ending June 30, 2011….
More

1/26/2011 – NAPA Transportation Buys Payne Trucking

NAPA Transportation, Mechanicsburg, Pa., has acquired certain assets of the dry van division and brokerage division of Payne Trucking Inc., Fredericksburg, Va….
More

1/26/2011 – Logistics, Intermodal, Regional Help Marten Improve Profits

Marten Transport, Mondovi, Wis., reported a 22.2% increase in net income for the fourth quarter of 2010, up to $5.2 million, or 24 cents per diluted share, from $4.3 million, or 19 cents per diluted share, for the fourth quarter of 2009….
More

1/26/2011 – Swift Reports Improved Results for 4Q, 2010

Swift Transportation Company reported a smaller loss for the fourth quarter of 2010 than it did for the same quarter a year earlier….
More

1/24/2011 – U.S. Xpress Founders Look Back, Forward During 25th Anniversary Event

U.S. Xpress Enterprises celebrated the 25th anniversary of its first load of freight Friday – but its co-chairmen said it would be very difficult to duplicate their accomplishments in today’s business and regulatory environment….
More

1/24/2011 – Heartland Express 4Q Earnings Up 44%

Heartland Express, North Liberty, Iowa, reported revenues up 13 percent and net income up 44 percent for the fourth quarter of 2010 compared to a year earlier. For 2010, revenues and net income were both up about 9 percent from 2009….
More

1/21/2011 – ABF Appeals YRC-Teamsters Decision

ABF Freight System is taking its challenge to competitor YRC’s deal with the Teamsters union to the U.S. Court of Appeals….
More

1/20/2011 – Con-way Freight Introduces SafeStack Cargo Loading System Fleetwide

Con-way Freight announced the nationwide deployment of SafeStack, an advanced load management and cargo protection system, installed across its less-than-truckload fleet of 16,800 freight trailers in North America….
More

1/20/2011 – Henderson Trucking Opens St. Louis Facility

Earl L. Henderson Trucking formally opened a new facility in the St. Louis area this week, and has also ordered 183 new Freightliner Cascadia tractors….
More

1/18/2011 – FFE Transportation Services Opens Ontario, Calif. Service Center

FFE Transportation Services, Inc. has opened a new service center in Ontario, CA in an effort to expand service, meet rising demand, and greatly increase capacity in the western United States temperature-controlled LTL market….
More

1/17/2011 – Vitran Plans to Buy Milan Express LTL Biz

Toronto-based less-than-truckload carrier Vitran Corp. announced it intents to expand into the Southeast buy buying Milan Express’ LTL business….
More

1/14/2011 – Transport America Buys Southern Cal Transport

Transport America, Egan, Minn., announced its acquisition of Birmingham, Ala.-based Southern Cal Transport. The merger will create a company with more than 2,200 drivers, making it one of the top 15 for-hire dry van truckload carriers in the United States….
More

1/14/2011 – USA Truck Forms Scholarship Program

USA Truck, Van Buren, Ark., announced the USA Truck Scholarship Program, designed to help eligible children of USA Truck employees pursue post-secondary educational opportunities….
More

1/11/2011 – Werner Launches Werner Cares Website

Werner Enterprises, Omaha, Neb., launched a new website, Wernercares.com, to promote safety-related and wellness issues to the general public as well as truck drivers both inside and outside the company….
More

1/6/2011 – TCA Announces National Fleet Safety Awards Division Winners

Eighteen companies have been selected as division winners in the Truckload Carriers Association’s 35th Annual National Fleet Safety Awards. Sponsored by Great West Casualty Company, the awards recognize trucking companies that demonstrate a superior commitment to safety and accident reduction….
More

1/5/2011 – Class 8 Orders Top 25,000 Second Straight Month

December preliminary net orders of heavy-duty Class 8 commercial vehicles for North American markets were 25,500 units, according to ACT Research Co….
More

12/31/2010 – Meijer Donates Trucks to Food Banks and Other Organizations


The Meijer Supercenter chain has donated 35 reconditioned semi-tractors valued at $500,000 to local food banks, academic organizations and law enforcement agencies throughout the Midwest….
More

12/30/2010 – Mullen Group Expanding Oil Field Capabilities in Western Canada


Mullen Group Ltd. announced today a number of transactions that will expand its fluid handling and hauling capabilities in northern Alberta and northeastern British Columbia….
More

12/27/2010 – Dart Buys Fil-Mor Equipment, Offers Jobs


The Dart Network of companies has purchased assets from Fil-Mor Express, a dry van truckload carrier based in Cannon Falls, Minn. that discontinued service on December 17….
More

12/24/2010 – Panther Raises $25,000 on Behalf of Toys for Tots

Panther Expedited Services has raised and donated $25,000 in cash and more than 200 toys on behalf of Toys for Tots….
More

JOIN OUR NEWSLETTER
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.