Universal Logistics completed the acquisition of Parsec for $193.6m.

Universal Logistics, a company specializing in transportation and logistics services, completed the acquisition of Parsec, a company focused on terminal management services, for $193.6m. "I am extremely excited to welcome Parsec to the Universal family of companies. 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 strategic acquisition further enhances our value-added service offering, and provides Universal a meaningful presence in the rail terminal services space. On an annualized basis, the acquisition of Parsec is expected to boost Universal's contract logistics segment revenues to over $1 billion," Tim Phillips, Universal Logistics CEO.