Thayer Capital Partners, a Washington D.C. private equity firm announced today the purchase of Roadrunner Freight Systems Inc., Cudahy, WI.
Thayer, who recently completed the acquisition of LTL carrier Dawes Transport, Inc., Milwaukee, WI, said that these two light-asset based transportation companies would eventually be merged together. The company, which will be known as Roadrunner-Dawes, will have combined revenues approaching $365 million in 2005.
The eventual merger will provide Roadrunner-Dawes immediate expansion of the national footprint for both organizations, bolstering their ability to be more responsive to customer needs. Best practices will be implemented to strengthen service capabilities and technologies, providing cost synergy savings throughout the combined company.
Alan McBride, currently President and C.E.O. of Dawes Transport, Inc., will be President and C.E.O. of the combined company. Barry Turner, President of Roadrunner Freight Systems Inc., will serve as C.O.O.
Dawes and Roadrunner were ranked 95th and 100th respectively, in the 2004 edition of Transport Topics Top 100 Carrier listing. Combined, they would have ranked 63rd overall and 16th in the LTL sector.