Roadrunner Transportation sells off intermodal unit in order to restructure ( HCI strikes again )

Roadrunner Transportation Systems, Inc. (NYSE: RRTS) announced the sale of its intermodal unit, Roadrunner Intermodal Services, to Universal Logistics Holdings, Inc. (NASDAQ: ULH) for $51.25 million in cash on November 5.

Roadrunner continues to restructure in 2019. The company completed a re-capitalization, significantly lowering its debt load in February and completed a 1-for-25 reverse stock split in April in order to comply with New York Stock Exchange listing requirements. In September, the company announced that it would cut its unprofitable dry van operations (Rich Logistics, headquartered in Little Rock, Arkansas) by more than half, closing five terminals and terminating approximately 450 positions in efforts to reduce lease obligations and debt.

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