The terms of the deal were not disclosed. In conjunction with it, Ronald Sorrow, one of the founders and CEO of the predecessor company to RoadOne, will join the management team as Executive Chairman of the Board.
The company intends to use the funds to increase its services and and expand its presence.
Led by Ken Kellaway, President & Chief Executive Officer, and David McLaughlin, Chief Operating and Chief Financial Officer, RoadOne IntermodaLogistics is a full-service intermodal transportation and related logistics company. It provides port and rail container drayage, terminal operations, dedicated truckload services, and transloading, warehousing and distribution solutions nationwide.