The asset-light transportation and logistics service provider has extended its existing credit facility from $550 million to $700 million through 2019.
Roadrunner Transportation Systems, Inc. has extended its existing credit facility from $550 million to $700 million through 2019, according to a statement from the company.
The asset-light transportation and logistics service provider said the amended credit agreement also “provides for the modification of certain limits and terms.”
Roadrunner CEO Mark DiBlasi said the additional funds would allow the company to grow internally as well as through further strategic acquisitions.
“This agreement is a testament to the confidence our banking partners have in Roadrunner,” said DiBlasi. “The amendment reflects the Company’s strong capital position and financial flexibility, providing an ongoing ability to drive growth organically and through strategic acquisitions.”
Roadrunner has acquired more than a half-dozen 3PLs and trucking operations during the past two years.
Most recently, the company purchased El Paso, Texas-based Stagecoach Cartage and Distribution, a provider of truckload and logistics services, in July for approximately $35 million.
Roadrunner secures $150m in additional credit
