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Roadrunner Transportation Systems Announces Business Integration
DOWNERS GROVE, IL March 15, 2018 — Roadrunner Transportation Systems ("Roadrunner" or "the Company") (NYSE: RRTS), announced today the integration and rebranding of several operating companies into its Ascent Global Logistics operating segment. The increased size and scale of Ascent Global Logistics is designed to drive operational improvements and further the execution of world-class client solutions.
Operating companies to rebrand include Ascent's Domestic Freight Management companies, Capital Transportation Logistics (CTL), Great Northern Transportation Services (GNTS), Group Transportation Services (GTS) and MESCA Freight Services, as well as its International Freight Forwarding company, Marisol International. Ascent's Retail Consolidation company, Prime Distribution Services, will remain co-branded with Ascent Global Logistics.
The Roadrunner Truckload Plus brokerage offering will also rebrand to Ascent Global Logistics and will fully integrate into the existing Domestic Freight Management business. The combined Ascent Global Logistics business represents annual revenue in excess of $550 million with over 7,500 customers and 24 company offices throughout the United States. This integration will enable Ascent Global Logistics to strengthen its truckload brokerage capabilities providing stronger solutions for clients while simultaneously making it easier for Roadrunner Truckload Plus customers to benefit from Ascent's LTL, international and retail consolidation solutions and expertise.
"This rebranding and integration is consistent with our strategy to more fully integrate successful companies into larger business platforms with expanded go-to-market and information technology capabilities, which immediately benefit our clients and increase our addressable market," said Curt Stoelting, Chief Executive Officer of Roadrunner. "While the organization names may be changing, our clients will still be able to depend on the premium solutions they have come to expect from our talented logistics teams. Combining the power of Roadrunner Truckload Plus and Ascent Global Logistics couples our asset-backed strength with state-of-the-art technology to provide our clients with additional layers of value and coverage."
"The rebranding of five of our operating companies, along with the integration of the Roadrunner Truckload Plus organization into our Domestic Freight Management business, is the continuation of our strategy to make it easier for clients to engage us," said Bill Goodgion, President of Ascent Global Logistics. "This integration also expands and supports our current offerings by better leveraging our network of approximately 28,000 third-party carriers and our company-owned transportation assets, providing the additional capacity and backing that shippers are demanding. Within Ascent Global Logistics we now have a unique value proposition, when compared to many of our competitors, offering technology-enabled, asset-backed truckload, LTL, flatbed, heavy-haul, international transportation and retail consolidation solutions for our growing client list."
Chris Cook, current President of Roadrunner Truckload Plus, will assume responsibility of the fully-integrated Ascent Domestic Freight Management team. Current business leaders in Ascent's Domestic Freight Management companies will take on expanded roles in the newly combined business platform.
Micah Holst will continue to serve as President of the Ascent International Freight Forwarding business and Bill Vechiarella will remain President of Prime Distribution Services. Both will work closely with Cook and Goodgion on new business and cross-solution client opportunities. Existing customer and agent relationships will not be impacted by the business integration.
Cook added, "Our Ascent Domestic Freight Management integration also expands career and growth opportunities for our team of experienced logistics professionals. We will continue to operate our current office network with plans to expand our footprint in order to better serve existing as well as future clients. Additionally, we are providing our agents expanded access and growth opportunities in all major transportation modes supported by modern, easy to use technology."
Throughout 2017, Ascent's leadership and information technology teams have collaborated to synchronize workflows and technologies to support the migration to one common, propriety IT platform with a sole customer-facing technology, known as PEAK™. PEAK will continue to be expanded throughout 2018 and additional enhancements are already planned for the years ahead.