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PBC Announces Divestiture of Unitrans International

March 14, 2014
Unitrans

WEST PALM BEACH, FL – March 14, 2014 – Roadrunner Transportation Systems, Inc. (NYSE: RRTS), announced today that it has acquired all of the outstanding stock of Unitrans International Corporation, a Palm Beach Capital Fund III, LP portfolio company. Unitrans is a leading high-quality, non-asset based provider of international logistics solutions based in Los Angeles, California. Palm Beach Capital Fund III, LP originally acquired Unitrans along with
management in January 2012.

The total purchase price of $55.5 million was financed by borrowings under Roadrunner’s credit facility. Unitrans offers its customers international ocean and air transportation management, customs house brokerage, and domestic logistics solutions, with a focus on complex, cold chain, and high value shipments.

Shaun McGruder, Partner at Palm Beach Capital, said, “It is with mixed emotions that we announce the sale of Unitrans. We were very fortunate to partner with Andrew Schadegg, Chris Amberg and the rest of the Unitrans team in our original investment in 2012. We are certain they will continue to do great things under the Roadrunner umbrella and look forward to following their success”.

In 2013, Unitrans generated revenues of approximately $84 million.

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