LANDSTAR SYSTEM INC acquires Independent agent (truckload brokerage) acquired by Landstar Blue, LLC
Snapshot
LANDSTAR SYSTEM INC acquired Independent agent (truckload brokerage) acquired by Landstar Blue, LLC for approximately $2,766,000 cash, plus approximately $200,000 of assumed contingent purchase-price liabilities in June 2020. The transaction was structured as all cash. Independent agent (truckload brokerage) acquired by Landstar Blue, LLC is a United States-based Transportation logistics business.
- Acquirer
- LANDSTAR SYSTEM INC
- Target
- Independent agent (truckload brokerage) acquired by Landstar Blue, LLC
- Value
- approximately $2,766,000 cash, plus approximately $200,000 of assumed contingent purchase-price liabilities
- Date
- June 2020
- Type
- asset purchase
- Status
- ready
The deal at a glance
About this deal
LANDSTAR SYSTEM INC acquired Independent agent (truckload brokerage) acquired by Landstar Blue, LLC for approximately $2,766,000 cash, plus approximately $200,000 of assumed contingent purchase-price liabilities, a transaction completed in June 2020, structured as all cash. The deal was a asset purchase.
Independent agent (truckload brokerage) acquired by Landstar Blue, LLC operates in Transportation logistics, is based in United States. On May 6, 2020, the Company formed a new subsidiary subsequently renamed Landstar Blue, LLC (Landstar Blue), which arranges truckload brokerage services while helping the Company develop and test digital technologies and processes for the benefit of all Landstar independent commission sales agents. On June 15, 2020, Landstar Blue completed the acquisition of an independent agent of the Company whose business focused on truckload brokerage services.
Operated as Landstar Blue, LLC within the transportation logistics segment.
No advisory firms have been disclosed for this transaction.