Aug 18, 2020
Laurel Oak Capital Partners, LLC Announces the Acquisition of Roadrunner Temperature Controlled, a Division of Roadrunner Transportation
BOSTON, MA – (AUGUST 18, 2020) — Laurel Oak Capital Partners, LLC (“Laurel Oak”), a private investment firm focused on the industrial middle market, announces the acquisition of RRTC Holdings, Inc. (the “Company”), the temperature controlled division of Roadrunner Transportation Systems (PINK: RRTS). RRTC Holdings is comprised of Roadrunner Temperature Controlled, LLC and A&A Express, LLC.
RRTC Holdings is a leading provider of temperature-controlled transportation services for frozen foods, meat, seafood, produce, beverages, ice cream, pharmaceutical goods and many other products requiring temperature-controlled transit.
The Company provides solutions for large industry leaders to small family farms across the United States. With over 50 years of experience in the sector, the Company also employs the latest temperature control technologies to give customers large and small a premier refrigerated shipping experience.
Rena Clark, Laurel Oak Managing Partner, said, “This acquisition marks a key platform investment into the cold chain logistics and warehousing sector. We are both proud and honored to be partnering with a high-quality and very experienced management team. Tim Anderson, who will serve as President, comes from a long line of family-owned refrigerated transportation companies. He, along with Gene Cannon, Vice President of Network Operations, have over 50 years of experience in operating and growing businesses in the sector.”
Emanuel Slater, Laurel Oak Managing Partner, adds, “We are focused on measured and thoughtful growth, growing existing customer relationships, while also pursuing significant opportunity for both organic and inorganic growth.”
McGuireWoods LLP served as Laurel Oak’s legal counsel and CohnReznick LLP provided accounting diligence, while Wells Fargo provided financing.
ABOUT LAUREL OAK CAPITAL PARTNERS, LLC
Laurel Oak Capital Partners is a private equity firm focused on making investments in industrial middle market companies providing products and services. The firm is led by Rena Clark and Emanuel Slater who have 45+ years of combined operational, financial management and investment experience (www.laureloakcapital.com).