Private equity firm Laurel Oak Capital Partners acquired Roadrunner Temperature Controlled.
The seller is Roadrunner Transportation Systems Inc., which sold all of its truckload segment businesses, including Rich Logistics and Integrated Services Inc. to an undisclosed buyer.
Roadrunner previously closed the spinoff of Ascent Global Logistics Inc., and the company now consists solely of its less-than-truckload operations.
Paul Svindland, CEO of STG Logistics, joined Roadrunner's board. Donald Brown and Scott Dobak remain as independent directors on Roadrunner's board, while Christopher Doerr joined Ascent Global Logistics' board.
Roadrunner noted that its existing senior secured credit facility with BMO Harris Bank NA was terminated, and the company has entered into a new $45.0 million senior secured asset-based credit facility with Crystal Financial.