Roadrunner files to sell stock to public

The owner of Cudahy-based trucking company Roadrunner Transportation Services is moving toward a public stock offering. Roadrunner Transportation Services Holdings Inc. said today that it has filed with the Securities and Exchange Commission for an initial public offering. The number of shares to be offered and the price range remain undetermined. Robert W. Baird & Co. and BB&T Capital Markets will be the lead underwriters. Roadrunner is owned by Washington, D.C-based private equity investor Thayer/Hidden Creek, which in 2005 bought two Milwaukee-area trucking firms, Roadrunner Freight Systems and Dawes Transport, and combined them. The company posted $575 million in revenue last year. It operates 1,167 tractors with 1,332 drivers, all but 45 of them independent contractors. Formerly a "less-than-truckload" hauler - a carrier... [read full story]