Beep Beep! Platinum Agrees to Sell Active Aero to Roadrunner
August 14, 2014
Platinum Equity has reached an agreement to sell Active Aero Group to Roadrunner Transportation Systems (NYSE: RRTS) for approximately $115 million cash. The deal, for 100% equity, is expected to close by the end of 3Q. Active Aero is a supply-chain solutions provider focused on transportation logistics for customers with sensitive or time-critical freight, mostly in the U.S. and Mexico. Platinum Equity acquired a majority interest through a 2011 SBO from Berkshire Partners and Greenbriar Equity Group, which both retained minority stakes. Roadrunner expects upcoming transaction costs will impact in 3Q earnings by about two cents per share.