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Universal Acquires Intermodal Drayage Services Provider Michael's Cartage.

MANews-(C)2009-2019

23 April 2019 - Michigan, US-based transportation company Universal Logistics Holdings, Inc. (NASDAQ: ULH), an asset-light provider of customised transportation and logistics solutions, has acquired Illinois, US-based intermodal drayage services provider Michael's Cartage, Inc., the company said.

Terms of the transaction were not disclosed. Universal said it expects Michael's to operate as a subsidiary of Universal Intermodal, Inc., and the transaction should be immediately accretive.

This represents Universal's fifth acquisition since February 2018.

Universal Logistics Holdings, Inc. provides customised transportation and logistics solutions throughout the United States, and in Mexico, Canada and Colombia.

The company provides customers with supply chain solutions that can be scaled to meet their changing demands and volumes. The company offers customers a range of services across the supply chain, including truckload, brokerage, dedicated, intermodal, and value-added services.

Michael's Carthage optimises its fleet of over 130 tractors to provide intermodal drayage services primarily within a 300-mile radius of the Chicagoland area. For the year-ended December 31, 2018, Michael's reported total operating revenues of USD31.1 m.

Dykema served as Universal's legal advisors on the transaction. Republic Partners served as exclusive financial advisor to Michael's Cartage.

Country: USA

Sector: Road Transport/Freight Transport

Target: Michael's Cartage, Inc

Buyer: Universal Logistics Holdings

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: Dykema , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Apr 23, 2019
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