Cudahy-based Roadrunner Transportation Systems Inc. has agreed to acquire Belleville, Mich.-based Active Aero Group, a supply-chain solutions provider specializing in sensitive or time-critical freight, for $115 million.
The transaction will be funded with borrowings from Roadrunner’s credit facility, and is expected to close in Roadrunner’s third quarter.
Active Aero offers ground and air expedited services, mainly in the United States and Mexico. It uses spot bid technology, controlled capacity, a unique procurement system and multi-modal offering to efficiently meet time-critical logistics challenges.
“As we have indicated, the ability to provide air and ground expedited services to meet customers’ total transportation needs has been a key strategic objective for Roadrunner,” said Mark DiBlasi, president and chief executive officer of Roadrunner. “Active Aero’s strong position in the marketplace is based upon the high quality of its service offering and personnel and its unique blend of expedited services. As a result, we believe Active Aero represents an ideal match with our strategy and an excellent platform for growth in expedited services globally.”
Active Aero reported $265 million in revenue in fiscal 2014 and is expected to be accretive to Roadrunner earnings in its fourth quarter.
