secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL LOGISTICS HOLDINGS, INC. (ULH)
CIK:        0001308208
Form:       8-K
Filed at:   2024-10-01T23:59:59+00:00
Accession:  0000950170-24-110557
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Universal Logistics acquires rail terminal operator Parsec for $193.6M cash
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- Acquired Parsec (terminal services, 2,100 employees, >20 rail yards) for ~$193.6M cash, funded via KeyBank credit facility.
- Parsec reported TTM operating revenues of $230.2M (ended Aug 31, 2024); transaction expected to be immediately accretive.
- Parsec will operate within Universal's contract logistics segment; CEO says segment revenues expected to exceed $1B annually.
- Post-closing escrow of $2.6M; after borrowing, ~$81.7M revolver availability remains and all covenants compliant.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1308208/000095017024110557/0000950170-24-110557-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1308208/000095017024110557/ulh-20240930.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-110557

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer