Universal Logistics Holdings, Inc. has announced the acquisition of Michael’s Cartage. This is Universal’s fifth acquisition since February 1, 2018.
Michael’s, headquartered in Bridgeview, Illinois, has been providing full-service intermodal drayage services to customers in the Midwest for over 20 years. Universal expects Michael’s to operate as a subsidiary of Universal Intermodal, Inc., and the transaction should happen immediately.
Offering company-owned and owner-operator provided capacity, Michael’s fleet consists of over 130 tractors to provide intermodal drayage services primarily within a 300-mile radius of the Chicagoland area. For the year-ended December 31, 2018, Michael’s reported total operating revenues of $31.1m.
Jeff Rogers, Universal’s Chief Executive Officer, said, “As we continue to execute our M&A strategy in 2019, I am excited to announce Michael’s Cartage as the newest addition to the Universal family. Michael’s brings with it a very strong management team, and the acquisition solidly positions Universal as a leading intermodal drayage provider to the Chicagoland market. As Universal’s looks to continue the execution of its M&A strategy, we remain focused on finding premier service providers like Michael’s, and we are actively seeking opportunities in other key transportation markets including Dallas, Texas; Atlanta, Georgia; and Kearny, New Jersey. I’m excited to welcome aboard the Michael’s team, and look forward to our continued success in 2019 and beyond.”
Source: Universal
