Saia, Inc. Announces Acquisition of Brokerage and 3PL Business
Saia, Inc. announced today that it has acquired Robart Transportation, Inc. and its subsidiary, The RL Services Group, LLC (the Robart Companies). Headquartered in Duluth, GA, the Robart Companies have provided customers with quality truckload brokerage and logistics services since 1981.
"This acquisition supports our strategic goal of diversifying our portfolio of service offerings," said Saia President and CEO Richard O’Dell. "Sharon Burton, who currently serves as president and CEO of the non-asset based company, will continue to lead the operations of the acquired companies."
In 2011, the Robart Companies had $12 million in revenue. The purchase price is approximately $7.8 million, plus an earnout subject to performance of the acquired companies in 2013. The acquisition is expected to be modestly accretive to Saia earnings. Saia intends to rebrand the Robart Companies under the Saia name in the fourth quarter of 2012.
"By enhancing our service capabilities, there are distinct advantages for our customers," stated O’Dell. "I believe this acquisition will provide solid growth opportunities. The Robart Companies bring the strength of longstanding customer relationships as well as their unique expertise in truckload and logistics segments to the Saia portfolio. We are very excited to welcome Robart’s employees and customers to Saia."
Saia, Inc. a less-than-truckload provider of regional, interregional and guaranteed services covering 34 states. With headquarters in Georgia and a network of 148 terminals, the carrier employs 8,200 people.
The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This news release contains these types of statements, which are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
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