Transportation logistics company Hub Group Inc. said Wednesday it will buy privately held Interdom Partners, which provides container services, for $26 million.
The deal also provides for payments in 2007 and 2008 if the company hits earnings targets. The payments, called “earn-outs,'' will be made up of two cash payments that will not exceed $5 million combined, according to Hub Group.
Palos Heights-based Interdom has about 50 employees and operates two non-asset-based drayage companies in Chicago and Los Angeles. Interdom generated about $90 million in revenue in 2006.
The deal is expected to close at the end of June.
Hub Group shares fell 62 cents to close at $36.67 during regular trading hours. In the past year, the stock has traded between $19.76 to $38.13.
The deal also provides for payments in 2007 and 2008 if the company hits earnings targets. The payments, called “earn-outs,'' will be made up of two cash payments that will not exceed $5 million combined, according to Hub Group.
Palos Heights-based Interdom has about 50 employees and operates two non-asset-based drayage companies in Chicago and Los Angeles. Interdom generated about $90 million in revenue in 2006.
The deal is expected to close at the end of June.
Hub Group shares fell 62 cents to close at $36.67 during regular trading hours. In the past year, the stock has traded between $19.76 to $38.13.