Universal Truckload Services announced Thursday, Jan. 14, that it has completed the acquisition of three transportation companies throughout the United States. Terms of the December 2009 acquisitions were not disclosed.
D. Kratt International Inc. is a full-service international freight forwarding and customs house brokerage firm based in Chicago. 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, Tenn., 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, Texas, 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 about 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.
“We believe these acquisitions will nicely complement our current service offerings and add additional strength in our truckload operations,” says Don Cochcan, president and chief executive officer of Universal Truckload, based in Warren, Mich. “These were strategic acquisitions for us. Collectively, they should add about $35 million in annual revenue in 2010.”
Universal Truckload says the acquisitions are not expected to have a material effect on the company’s financial position, results of operations, or cash flows during 2010. “We do not expect their impact to be accretive to earnings until the second half of the year,” Cochran says. “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.”
