Universal Logistics acquires Parsec for $193.6M

Universal Logistics Holdings announced its acquisition of Parsec, Parsec Intermodal of Canada, and OB Leasing. Parsec is a market-leading provider of terminal management services to the Class I, regional, and short-line railroads across North America. For the trailing-twelve months ended August 31, Parsec reported total operating revenues of $230.2M. Parsec will operate within Universal’s contract logistics segment, and the transaction is expected to be immediately accretive. The cash purchase price was $193.6M, subject to customary post-closing adjustments.