Universal Logistics in Warren Acquires Utah’s Specialized Rail Service Inc.
Universal Logistics Holdings Inc. in Warren has acquired Specialized Rail Service Inc. in Utah.
Photo courtesy of Specialized Rail Service Inc.
Warren’s Universal Logistics Holdings Inc., an asset-light provider of customized transportation and logistics solutions, has acquired Specialized Rail Service Inc. in Utah. The purchase price was $12.3 million, subject to customary post-closing adjustments.
Pursuant to the acquisition, Specialized Rail will operate as part of Universal Intermodal Inc. and is expected to be immediately accretive.
Specialized Rail offers local and regional intermodal drayage services, transloading, cross-docking, warehousing and distribution, and intermodal facility management. It operates a fleet of more than 140 tractors and provides capacity to much of the western U.S. It uses both company-owned and owner-operator provided tractors.
“I am excited to announce SRS as the newest addition to the Universal family,” says Jeff Rogers, CEO at Universal. “Specialized Rail Service fits nicely in our acquisition strategy and provides us an excellent platform for further expansion in the western United States.
“By providing excellent customer service for over 20 years, Specialized Rail Service has earned its reputation as a best-in-class intermodal service provider. I'm excited to have them on board and look forward to our continued success.”
For year-end Dec. 31, 2017, Specialized Rail reported total operating revenues of $25.8 million.
Universal Logistics offers truckload, brokerage, dedicated, intermodal, and value-added services throughout the U.S. and in Mexico, Canada, and Colombia.