J.B. Hunt Transport Services, Inc. Expands e-Commerce Delivery Platform with the Acquisition of Special Logistics Dedicated, ...
July 21 2017 - 7:31AM
Business Wire
J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT), one of the
largest supply chain solutions providers in North America, today
announced it has entered into an agreement to acquire Special
Logistics Dedicated, LLC (SLD), and its affiliated entities,
subject to customary closing conditions.
“SLD’s strong customer base and strategically placed fulfillment
centers position us as a top national pool distribution services
provider,” said John Roberts, president and CEO of J.B. Hunt. “This
acquisition will also allow our customers to deploy ‘big and
bulky’ inventories into key markets, improving order fulfillment
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 $136 million 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. Preliminary valuations indicate an
incremental amortization expense between $7 million and $10 million
annually. 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 fulfillment centers
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; less-than-truckload
product consolidation; commingled pool distribution; and a
Texas-based intrastate 57’ dry van highway service.
About J.B. Hunt
J.B. Hunt Transport Services, Inc., a Fortune 500, S&P 500,
and NASDAQ-100 company, provides innovative supply chain solutions
for a variety of customers throughout North America. Utilizing an
integrated, multimodal approach, the company applies
technology-driven methods to create the best solution for each
customer, adding efficiency, flexibility, and value to their
operations. J.B. Hunt services include intermodal, dedicated,
refrigerated, truckload, less-than-truckload, flatbed, single
source, final mile, and more. J.B. Hunt Transport Services, Inc.
stock trades on NASDAQ under the ticker symbol JBHT and is a
component of the Dow Jones Transportation Average. J.B. Hunt
Transport, Inc. is a wholly owned subsidiary of JBHT. For more
information, visit www.jbhunt.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170721005298/en/
J.B. Hunt Transport Services, Inc.David G. Mee, 479-820-8363EVP,
Finance/Administration and Chief Financial Officer
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