Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Universal Logistics ( (ULH) ) has shared an announcement.
Universal Logistics Holdings, Inc. announced its acquisition of Parsec—a leading provider of terminal management services to railroads in North America—on September 30, 2024, for $193.6 million cash, subject to post-closing adjustments. Parsec, known for efficient operations across complex rail yards, bolsters Universal’s contract logistics segment, promising immediate revenue growth and expanding the company’s service offerings in the rail terminal sector. The strategic move, financed through Universal’s credit facility, is set to propel the segment’s revenues to over $1 billion annually.
For detailed information about ULH stock, go to TipRanks’ Stock Analysis page.
