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Rail News: Intermodal

Hub Group to acquire Comtrak's assets


Hub Group Inc. recently reached an agreement with Comtrak Inc. to acquire the transportation and logistics provider’s assets for $38 million.

Established in 1983, Comtrak provides rail and international drayage services for the intermodal industry, as well as full truckload, container storage, yard management, truck brokerage and other logistics services. The company’s 2005 revenue is projected to total about $85 million.

Hub Group officials expect to close the transaction — which is subject to customary closing conditions and approvals — during the first quarter.

“The acquisition is consistent with our strategic plan that calls for Hub to increase the amount of local trucking we perform,” said Hub Group Chief Executive Officer David Yeager in a prepared statement. “Comtrak also has innovative technology, which we can leverage in our existing drayage business.”

Hub Group provides intermodal, truckload brokerage, logistics and distribution services in the United States, Canada and Mexico.

Contact Progressive Railroading editorial staff.

More News from 1/20/2006