Roadrunner Announces Sale of its Flatbed Business Unit
Roadrunner’s Flatbed business unit operates as D&E Transport based in
“The divestiture of the Flatbed business unit is another step forward in our strategy to simplify our portfolio by focusing on our value-added logistics and asset-light LTL segments,” said
The company used the proceeds from the sale to repay finance leases and debt and pay transaction costs, with the remaining amount available for general corporate purposes.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which relate to future events or performance. Forward-looking statements include, among others, statements regarding Roadrunner’s belief that the divestiture of the flatbed business unit is another step forward in its strategy to simplify its portfolio by focusing on its value-added logistics and asset-light LTL. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,” “predict,” “potential,” “opportunity,” and similar words or phrases or the negatives of these words or phrases. These forward-looking statements are based on Roadrunner’s current assumptions, expectations and beliefs and are subject to substantial risks, estimates, assumptions, uncertainties and changes in circumstances that may cause Roadrunner’s actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. Such factors include, among others, risks related to the restatement of Roadrunner’s previously issued financial statements, the remediation of Roadrunner’s identified material weaknesses in its internal control over financial reporting, the litigation resulting from the restatement of Roadrunner’s previously issued financial statements and the other risk factors contained in Roadrunner’s