WARREN, Mich. , Sept. 30, 2024 /PRNewswire/ -- Universal Logistics Holdings, Inc.
(NASDAQ: ULH) announced today its acquisition of Parsec, LLC, Parsec Intermodal of Canada ULC, and OB Leasing, LLC (collectively "Parsec"). Parsec is a market-leading provider of terminal management services to the Class I, regional, and short-line railroads across North America . With a highly-skilled workforce of nearly 2,100 employees, Parsec offers a comprehensive suite of terminal services at over 20 rail yards throughout the United States and in Canada .
Parsec specializes in time-sensitive, container lift on and lift off services ensuring efficient and reliable operations at some of the most complex rail yards across the country. Among other services, Parsec also provides crane and intermodal equipment repair, drayage, and container and chassis stacking. For the trailing-twelve months ended August 31, 2024 , Parsec reported total operating revenues of $230.
2 million . Parsec will operate within Universal's contract logistics segment, and the transaction is expected to be immediately accretive. "I am extremely excited to welcome Parsec to the Universal family of companies," stated Universal's CEO Tim Phillips .
"This is an exciting opportunity to build on Parsec's long-standing customer relationships and further diversify our contract logistics service offering. Partnering with the railroads for over 35 years, Parsec is a go-to service provider offering rail yard terminal solutions. This s.
