Roadrunner Transportation Services Holdings Inc. announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock.
The Milwaukee-based company, which provides nonasset-based transportation services, said in the July 24 filing that Robert W. Baird & Co. and BB&T Capital Markets are underwriting the IPO, and that it plans to list the stock on the Nasdaq under the symbol “RRTS.”
In 2005, Thayer/Hidden Creek – a Washington, D.C.-based private equity investor – purchased Roadrunner Freight Systems and Dawes Transport, combining the two Milwaukee-area trucking companies as Roadrunner Dawes Freight Systems. This transition included hiring Mark DiBlasi, a former Federal Express executive, as president and chief executive officer of the new company.
On June 16, the company announced its new brand identity and logo, Roadrunner Transportation Services, and reaffirmed its commitment to a diversified customer base. The company said the changes reflected its comprehensive service offerings, including third-party transportation logistics and supply-chain management.
“Since the merger of Roadrunner Freight and Dawes Transport three years ago, the company has made significant operational changes,” DiBlasi said. “Through a series of acquisitions and strategic alliances, as well as organic growth, we’ve become competitive as a full-service transportation solutions provider. The credit for this belongs to our exceptional team, who at every level and customer touch-point deliver on our service promise each day.”
The company said the new brand identity incorporates a new tagline – “Adaptability. Reliability.” – that exemplifies its business model, which centers on consistent on-time performance, industry-low claims ratios and the empowerment of employees at the local terminal level to exceed client expectations.