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Rail News: Intermodal

Hub Group's Comtrak Logistics to acquire intermodal trucking firm's assets


Hub Group Inc. recently reached an agreement under which subsidiary Comtrak Logistics Inc. will acquire DNJ Transportation Inc.’s assets for $12.1 million.

An intermodal trucking company, DNJ Transportation provides international freight drayage services and operates four terminals in Illinois and Indiana.

Per the agreement’s terms, the Hub Group will pay $9.6 million in cash at closing, which is expected to occur in early October, and later provide an earn-out payment not to exceed $2.5 million. In addition, DNJ Vice President Joe Tovo III will join Comtrak Logistics as manager of international drayage.

“DNJ’s international intermodal business will provide us with immediate growth in this key market [and] the acquisition is consistent with our strategic plan to increase the amount of drayage we perform,” said Hub Group Chief Executive Officer David Yeager in a prepared statement.

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

Contact Progressive Railroading editorial staff.

More News from 9/13/2007