Universal Truckload Services Acquires LINC
By Anuja Abraham
Universal Truckload Services, Inc. has acquired LINC Logistics Company, a leading asset-light provider of custom-developed third-party logistics solutions, in a stock-for-stock transaction valued at approximately $335 million, including the assumption of debt.
“The combination of Universal and LINC creates one of the largest full-service, asset-light logistics platforms in North America and significantly enhances our long-term growth profile,” said Universal President and Chief Executive Officer Donald Cochran.
Matthew Moroun, Chairman of the Board for both Universal and LINC commented, “Until the closing of this transaction, the management structure of Universal and LINC will remain the same. Following the closing, Scott Wolfe is expected to assume the role of Chief Executive Officer of the combined company. Don Cochran is expected remain President of Universal, and is expected to also become the Vice Chairman of the company. David Crittenden is expected to become the Chief Financial Officer of Universal following this transaction. Bob Sigler is expected to become the Executive Vice President of the company. We believe that this management structure will help support the future growth prospects of the company, and provides Universal with a stable succession plan.”