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Intermodal
Rail News: Intermodal
Hub Group Inc. is acquiring a competing intermodal marketing company. Hub Group recently reached an agreement to acquire the assets of Interdom Partners, which provides 20- and 40-foot container services to international and domestic customers, and operates two drayage companies in Chicago and Los Angeles.
Expected to close by month’s end, the transaction calls for Hub Group to pay about $26 million in cash and two separate cash payments totaling $5 million or less to cover 2007 and 2008 earn-outs.
“Interdom is a leading provider of third-party international services and the acquisition will provide Hub with an entry into this growing market,” said Hub Group Chief Executive Officer David Yeager in a prepared statement. “We plan to combine our domestic reload business with Interdom’s to create what we believe will be the largest player in this market. This combined entity will operate under the Interdom name.”
6/7/2007
Rail News: Intermodal
Hub Group to acquire Interdom Partners
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Hub Group Inc. is acquiring a competing intermodal marketing company. Hub Group recently reached an agreement to acquire the assets of Interdom Partners, which provides 20- and 40-foot container services to international and domestic customers, and operates two drayage companies in Chicago and Los Angeles.
Expected to close by month’s end, the transaction calls for Hub Group to pay about $26 million in cash and two separate cash payments totaling $5 million or less to cover 2007 and 2008 earn-outs.
“Interdom is a leading provider of third-party international services and the acquisition will provide Hub with an entry into this growing market,” said Hub Group Chief Executive Officer David Yeager in a prepared statement. “We plan to combine our domestic reload business with Interdom’s to create what we believe will be the largest player in this market. This combined entity will operate under the Interdom name.”
