Longtime Port of Charleston trucking business is sold in $9 million deal
A Wisconsin company has purchased a longtime local trucking business in a deal valued at about $9 million.
Roadrunner Transportation Systems Inc. announced Tuesday that it has acquired all of the stock and property of Mount Pleasant-based Wando Trucking Inc.
Formed in 1982 by Citadel graduate Ray Segars, Wando Trucking primarily hauls imported and exported goods, including raw rubber, building materials, paper and plastics from the ports of Charleston and Savannah. It had about $13 million in revenue last year, Roadrunner said in statement.
Wando Trucking is headquartered on Wando Lane, near the State Ports Authority’s Wando Welch Terminal.
Roadrunner said it financed the acquisition by tapping into its credit line.
“The Wando acquisition enhances the scale of our intermodal services in the Southeast and provides better access to the ports of Charleston and Savannah,” said Brian van Helden, president of Roadrunner’s truckload and logistics business unit. “We look forward to supporting and expanding Wando’s strong customer relationships and service record as we pursue continued growth in the business.”
Roadrunner is based in Cudahy, Wis. The company is listed on the New York Stock Exchange, and its shares trade under the symbol RRTS.