May 25, 2017 / 9:19 PM / 2 months ago

BRIEF-Hub Group to acquire Estenson Logistics

2 Min Read

May 25 (Reuters) - Hub Group Inc

* Hub group announces the acquisition of estenson logistics

* Hub group announces the acquisition of estenson logistics

* Hub group inc - deal for ‍approximately $306 million​

* Hub group inc - deal for $306 million

* Hub group inc - deal accretive to earnings in 2017

* Hub group inc- following closing of transaction, business will be named hub group dedicated services and will operate as part of hub group trucking

* Transaction represents an enterprise value of approximately $289 million

* Hub group inc - excluding this amount, transaction represents an enterprise value of approximately $289 million

* Hub group - transaction will be financed with combination of cash, an assumption of estenson's secured equipment notes, borrowings under a new credit facility

* Says company's leadership team, including tim estenson, ceo, will continue in their current roles

* Hub group inc - transaction consideration of approximately $306 million includes approximately $17 million related to recent equipment investments

* Says hub group dedicated services will be headquartered in mesa, arizona

* Hub group inc- believe that cross-selling opportunities are in excess of $100 million in next five years

* Hub-Portion of deal consideration to consist of option for seller to get up to $6 million in event certain ebitda targets are met for 2 yrs following deal

* Hub group inc - ‍co's subsidiary, hub group trucking, inc., has entered into an agreement to acquire business of estenson logistics, llc​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below