Universal Logistics Holdings Acquires Parsec, a Market-Leading Rail Terminal Operator

Core Viewpoint - Universal Logistics Holdings, Inc. has acquired Parsec, a leading provider of terminal management services for railroads in North America, enhancing its contract logistics segment and expected to boost revenues significantly [1][2]. Company Overview - Universal Logistics Holdings, Inc. operates a variety of customized transportation and logistics solutions across the United States, Mexico, Canada, and Colombia, offering services such as truckload, brokerage, intermodal, and dedicated services [3]. Acquisition Details - The acquisition includes Parsec, Parsec Intermodal of Canada ULC, and OB Leasing, with a cash purchase price of $193.6 million, subject to customary post-closing adjustments [2]. - Parsec reported total operating revenues of$230.2 million for the trailing twelve months ended August 31, 2024, and will operate within Universal's contract logistics segment [1][2]. - The acquisition is expected to increase Universal's contract logistics segment revenues to over $1 billion on an annualized basis [2]. Strategic Importance - The acquisition is seen as a strategic move to build on Parsec's long-standing customer relationships and diversify Universal's service offerings in the rail terminal services space [2]. - Parsec has a skilled workforce of nearly 2,100 employees and provides a comprehensive suite of terminal services at over 20 rail yards in the U.S. and Canada, specializing in time-sensitive container lift services [1].