Subsequent Events |
9 Months Ended |
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Sep. 30, 2018 | |
| Subsequent Event [Line Items] | |
| Subsequent Events |
On October 24, 2018, we announced that our wholly-owned subsidiary, Central States Trucking Co. (“CST”), entered into an agreement to acquire substantially all of the assets of Southwest Freight Distributors (“Southwest”). The closing of the transaction is subject to various customary conditions, including but not limited to, compliance with the covenants and agreements in the definitive agreement in all material respects. The Company will pay approximately $16,250 and acquisition will be funded by a combination of cash on hand. Southwest is a Dallas, Texas based premium drayage provider. We expect the transaction will close within a month, and we anticipate Southwest will contribute $20,000 of revenue and $3,000 of EBITDA on an annualized basis.
CST is included in our Intermodal reportable segment.
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