LTL specialist Roadrunner offers full refund for late shipments
Roadrunner is chasing a bigger slice of the premium US LTL market with a full ...
Nov 22, 2024, 07:59 ET
Fresh Capital to Propel Transportation’s Greatest Comeback Story to Next Phase of Growth
CHICAGO, Nov. 22, 2024 /PRNewswire/ — Prospero Staff Capital, a private equity vehicle co-led by Ted Kellner and Chris Jamroz, announced today the acquisition of a majority ownership interest in Roadrunner from affiliates controlled by Elliott Investment Management L.P. (“Elliott”). Elliott will retain a minority stake in the company, remaining a long-term partner in Roadrunner’s growth.
Ted Kellner, founder and partner of Fiduciary Management Inc. with over $17 billion in assets under management, and currently CEO of T&M Partners and Chairman of Fiduciary Real Estate Development, is a long-term investor in Roadrunner and a prominent figure in the financial and real estate investment industry. “I’m thrilled about this new chapter for Roadrunner and to partner with Chris and his team to execute the next exciting developments there,” said Mr. Kellner. “From its roots in my home state of Wisconsin, Roadrunner has grown into the largest direct metro-to-metro LTL carrier, and I’m looking forward to growing our roster of direct corporate shippers and new investment in the business, as we continue driving Roadrunner’s success.”
With seven prior successful platform exits and nearly $10 billion in shareholder value created for financial sponsors and ownership groups, Chris Jamroz is a renowned value unlocking specialist. Through his proprietary model of ultra-precise operations management, Chris has consistently delivered outsized returns across all modes of the supply chain, globally. Prospero Staff Capital is part of LyonIX Holdings, Chris’s investment company with holdings in transportation and logistics, real estate, infrastructure, and cyber security.
“After comprehensively unwinding the prior management’s roll-up strategy to get to a pure-play LTL network, Roadrunner now stands as a premium long-haul carrier,” said Jamroz. “Today marks the beginning of our growth phase, driven by new capital, strategic investments, and acquisitions. We’re committed to organic expansion, as well as pursuing focused and opportunistic M&A to strengthen our market position.”
The transaction follows a multi-year transformation led by the current management team, under Chris Jamroz’s leadership. During this time, Roadrunner has undergone a complete overhaul of its operations and network, achieving industry-leading service levels and has recently soared in customer satisfaction ratings. Headquartered in the Chicago area, Roadrunner is now well positioned to build on its recent momentum, leveraging its strong operational model to continue delivering value to its customers.
Roadrunner has been the recipient of several service quality awards from multiple shippers including: the Platinum LTL Carrier Award from Echo Global Logistics, which recognizes outstanding service, commitment, and performance; the Breakthrough Carrier of the Year Award from GLT Logistics, which celebrates dedication to innovation and improvement; and the Elite Carrier Award from Total Quality Logistics (TQL). Roadrunner was named a Top 100 Trucking Company by Inbound Logistics in 2023 and 2024.
About Roadrunner
Roadrunner offers more direct long-haul metro-to-metro shipping than any other nationwide LTL carrier in the United States. With nationwide presence and terminals across 40+ metro markets, the company’s Smart Network™ is the preferred choice for shippers looking to move freight quickly and reliably. With Driver Teams executing Over-the-Road (OTR) moves and no freight moving on rail, their customers enjoy industry-leading transit times. The award-winning operations platform is fueled by AI and ML technology assuring integrity of custodial controls of freight and real-time tracking and visibility. Direct routing eliminates the need for rehandles and freight handovers and hence reduces the risk of loss or damage.
More than 1,000 drivers leverage the Roadrunner Smart Network™ to empower their businesses and are fiscally motivated to deliver freight on time, intact, and damage free. Roadrunner was recognized by Newsweek™ as one of America’s Most Trustworthy Companies in 2022. (PINK: RRTS)
To learn more about shipping with Roadrunner: https://www.roadrunnerLTL.com
Explore careers in sales, operations, and technology at Roadrunner: https://www.shiproadrunnerfreight.com/careers/work-with-us/
To drive for Roadrunner as Owner Operators and Teams: https://run4roadrunner.com/
SOURCE Roadrunner
Comment on this article