Universal Truckload Services, Inc. Acquires Three Transportation Companies
WARREN, Mich., Jan. 14 /PRNewswire-FirstCall/ -- Universal Truckload Services, Inc. (Nasdaq: UACL), announced today that during December 2009, it has completed the acquisition of three transportation companies throughout the United States.
D. Kratt International, Inc. is a full service international freight forwarding and customs house brokerage firm based in Chicago, IL. D. Kratt International also provides extensive domestic and international logistics and warehousing functions, as well as comprehensive documentary and cargo insurance services. D. Kratt International will operate as part of Universal Logistics, Inc., a wholly-owned subsidiary of Universal Truckload Services, Inc.
Cavalry Transportation, LLC and Cavalry Logistics, LLC, based in Nashville, TN, offer fully integrated transportation resources designed to maximize value for its customers through logistic solutions in intermodal, truckload, and less-than-truckload transportation options. Calvary will operate as a wholly-owned subsidiary of Universal Truckload Services, Inc.
TSD Transportation L.P., based in Texarkana, TX, provides a wide variety of for hire freight services including van, flatbed, step deck, heavy haul, hot shots, and intermodal services throughout the United States. The TSD Transportation network consists of approximately 30 agents and 200 owner-operators. TSD International will be integrated into the operations of Louisiana Transportation, Inc., a wholly-owned subsidiary of Universal Truckload Services, Inc.Universal stated the acquisitions are not expected to have a material effect on the Company's financial position, results of operations, or cash flows during 2010. Terms of the acquisitions were not disclosed. "We believe these acquisitions will nicely complement our current service offerings," stated Universal's President and CEO, Don Cochran, "and add additional strength in our truckload operations. These were strategic acquisitions for us. Collectively, they should add about $35.0 million in annual revenue in 2010; however, we do not expect their impact to be accretive to earnings until the second half of the year. We appreciate the efforts of our acquisition teams and look forward to working with the customers, employees, agents and owner-operators of our newly acquired companies. I am excited to announce these new additions to our family of UTSI companies."
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