Universal Logistics Holdings acquires Parsec

Torys acted as Canadian counsel to Universal Logistics Holdings with a team that included John Emanoilidis, Justin Crawford and Mitchell Hayes (corporate/M&A), and Jerald Wortsman and Gwen Watson (tax).

On September 30, 2024, Universal Logistics Holdings, Inc. (“Universal Logistics Holdings”) announced its acquisition of Parsec, Inc. (“Parsec”), a market-leading provider of terminal management services to the Class I, regional, and short-line railroads across North America. 

The cash purchase price is US$193.6 million, subject to customary post-closing adjustments.

Further information can be found on PR Newswire’s website.

Parsec is a leading provider of contract intermodal terminal management services throughout North America.

Universal Logistics Holdings is a holding company whose subsidiaries provide a variety of customized transportation and logistics solutions throughout the United States and in Mexico, Canada and Colombia.