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July 2, 2012
|Saia, Inc. Announces Acquisition of Brokerage and 3PL Business|
JOHNS CREEK, GA - Saia, Inc. (NASDAQ: SAIA), a leading multi-regional less-than-truckload (LTL) carrier, announced today that it has acquired Robart Transportation, Inc. and its subsidiary, The RL Services Group, LLC (the Robart Companies). Headquartered in Duluth, GA., the Robart Companies have provided customers with quality truckload brokerage and logistics services since 1981.
"This acquisition supports our strategic goal of diversifying our portfolio of service offerings," said Saia President and CEO Richard O'Dell. "Sharon Burton, who currently serves as president and CEO of the non-asset based company, will continue to lead the operations of the acquired companies."
In 2011, the Robart Companies had $12 million in revenue. The purchase price is approximately $7.8 million, plus an earnout subject to performance of the acquired companies in 2013. The acquisition is expected to be modestly accretive to Saia earnings. Saia intends to rebrand the Robart Companies under the Saia name in the fourth quarter of 2012.
"By enhancing our service capabilities, there are distinct advantages for our customers," stated O'Dell. "I believe this acquisition will provide solid growth opportunities. The Robart Companies bring the strength of longstanding customer relationships as well as their unique expertise in truckload and logistics segments to the Saia portfolio. We are very excited to welcome Robart's employees and customers to Saia."
Saia, Inc. (NASDAQ: SAIA) is a less-than-truckload provider of regional, interregional and guaranteed services covering 34 states. With headquarters in Georgia and a network of 148 terminals, the carrier employs 8,200 people. For more information, please visit the Investor Relations section of the website at www.saia.com.
The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This news release contains these types of statements, which are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "anticipate," "estimate," "expect," "project," "intend," "may," "plan," "predict," "believe," "should" and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue reliance on forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements reflect the present expectation of future events of our management as of the date of this news release and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors, risks, assumptions and uncertainties include, but are not limited to, general economic conditions including downturns in the business cycle; the creditworthiness of our customers and their ability to pay for services; competitive initiatives and pricing pressures, including in connection with fuel surcharge; the Company's need for capital and uncertainty of the current credit markets; the possibility of defaults under the Company's debt agreements (including violation of financial covenants); possible issuance of equity which would dilute stock ownership; indemnification obligations associated with the 2006 sale of Jevic Transportation, Inc.; the effect of litigation including class action lawsuits; cost and availability of qualified drivers, fuel, purchased transportation, real property, revenue equipment and other assets; governmental regulations, including but not limited to Hours of Service, engine emissions, the "Compliance, Safety, Accountability" (CSA) initiative, compliance with legislation requiring companies to evaluate their internal control over financial reporting, changes in interpretation of accounting principles and Homeland Security; dependence on key employees; inclement weather; labor relations, including the adverse impact should a portion of the Company's workforce become unionized; effectiveness of Company-specific performance improvement initiatives; terrorism risks; self-insurance claims and other expense volatility; increased costs as a result of recently enacted healthcare reform legislation and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's SEC filings. As a result of these and other factors, no assurance can be given as to our future results and achievements. A forward looking statement is neither a prediction nor a guarantee of future events or circumstances and those future events or circumstances may not occur.