Roadrunner Transportation Systems, Inc. (“Roadrunner”) has transitioned from being a multi-modal transportation and logistics service provider to being a transportation service provider focused exclusivity on less-than-truckload services. The temperature controlled truckload division, RRTC Holding, Inc., d.b.a A&A Express, LLC (“RRTC Holdings” or the “Company”) is a leading provider of temperature-controlled transportation services of food and beverage products for retail and food service customers across the lower 48 states. The Company is headquartered in South Dakota and has greatest lane density across the Midwest and West regions.
RRTC Holdings was developed through a rollup of four distinct acquisitions across the Midwest region. The four legal entities were consolidated into one operating company which operated as A&A Express, LLC. Roadrunner was seeking to sell RRTC Holdings as part of a multi-pronged reorganization strategy for Roadrunner to become a national carrier focused solely on providing less-than-truckload transportation services.
G2 Capital Advisors, LLC (“G2”) was engaged by Roadrunner as the exclusive sell-side advisor to lead a highly targeted and efficient sale process to carve out Roadrunner’s temperature-controlled truckload segment.
The transaction was successfully executed through a sale of RRTC Holdings to Laurel Oak Capital Partners as a platform investment in cold chain logistics. Laurel Oak Capital Partners plans to leverage the existing network in the Midwest to create a national carrier along with evaluating other potential services to existing capabilities.