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Logistics firm US 1 Industries has accepted a buyout offer from a company owned by two of its top executives.

The acquiring company, Trucking Investment Co., is owned by Harold Antonson, US 1's chief financial officer, and Michael Kibler, its CEO, US 1 said in a statement Friday.

Antonson and Kibler had proposed to take US 1 private in September by buying the 48% of shares that they did not already own.

The executives will pay $1.43 per share for US 1. It represents a 46% premium over US 1's stock price during the 90 days prior to the announcement of their offer, US 1's statement said. iv id="piano-pw-mid">