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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.