J.B. Hunt Transport Services has announced it has entered into an agreement to acquire Special Logistics Dedicated, LLC (SLD) and its affiliated entities, subject to customary closing conditions.
John Roberts, President and CEO of J.B. Hunt, said: “SLD’s strong customer base and strategically placed fulfilment centres position us as a top national pool distribution services provider.”
He added: “This acquisition will also allow our customers to deploy ‘big and bulky’ inventories into key markets, improving order fulfilment times for Final Mile deliveries and further enhancing our e-commerce delivery capabilities. We are excited to welcome the employees, customers, and carriers of SLD to J.B. Hunt.”
The purchase price is $136m with no assumption of debt. J.B. Hunt anticipates using its existing revolving credit facility to finance this transaction and to provide liquidity for future operations. The transaction is not expected to have a significant impact on interest expense. J.B. Hunt expects the transaction to be immaterial to 2017 operating results and accretive in 2018.
Based in Houston, SLD provides pool distribution services throughout North America using 14 terminals and fulfilment centres and a fleet of over 850 pieces of equipment. Service offerings include dedicated transportation at both dedicated and multi-use sites, cross-docking and contract logistics, LTL product consolidation etc.
Source: J.B. Hunt
