Monday, April 4, 2011

Hub Group buys Exel Transportation for $83 million

DOWNERS GROVE, Ill. -- Hub Group, Inc. announced today that it purchased Exel Transportation Services (ETS) of Dallas, Texas for $83 million . ETS will operate independently under the name Mode Transportation.

Hub Group is one of the largest intermodal marketing companies in the United States. Exel's intermodal business accounted for 41% of 2010 sales of $717 million.

ETS/Mode Transportation consists of about 300 IBOs who sell and operate the business throughout North America, corporate offices in Dallas and Memphis, a Company Managed Operation in Dallas and a temperature protected services division, Temstar, located in Lombard, IL.

From PRNewswire and Reuters