Deal

LANDSTAR SYSTEM INC acquires Fletes Avella, S.A. de C.V.

September 2017 Asset purchase Ready

01 Scorecard

The deal at a glance

LANDSTAR SYSTEM INC acquired Fletes Avella, S.A. de C.V., a transaction completed in September 2017, structured as all cash. The deal was a Asset purchase.

Fletes Avella, S.A. de C.V. operates in Transportation logistics, is based in Mexico. On September 20, 2017, Landstar Metro, S.A.P.I. de C.V. (Landstar Metro), a newly formed subsidiary of the Company, acquired substantially all of the assets of the asset-light transportation logistics business of Fletes Avella, S.A. de C.V., a Mexican transportation logistics company. Landstar Metro provides freight and logistics services within Mexico; Landstar Servicios provides administrative, financial, operational, safety and compliance services to Landstar Metro.

Operated through Landstar Metro / Landstar Servicios (70% owned by Landstar at acquisition; seller-affiliated individuals held 30%), within the transportation logistics segment.

On September 20, 2017, Landstar Metro, S.A.P.I. de C.V. (Landstar Metro), a recently formed subsidiary of the Company, acquired substantially all of the assets of the asset-light transportation logistics business of Fletes Avella, S.A. de C.V., a Mexican transportation logistics company. In connection with the acquisition, individuals affiliated with the seller subscribed in the aggregate for a 30% equity interest in each of Landstar Metro and Landstar Metro Servicios S.A.P.I. de C.V. (Landstar Servicios), while the Company owns a 70% interest in each.

Landstar System FY2017 10-K, Item 1 Business description

Advisors not disclosed

No advisory firms have been disclosed for this transaction.

The deal at a glance

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