Werner Enterprises has acquired ReedTMS Logistics, an asset-light logistics provider and truckload carrier that offers freight brokerage and truckload solutions, for about $112 million. This is the latest in a series of mergers by Werner, including its acquisition of Baylor Trucking in October, and ECM Transport Group and NEHDS Logistics in 2021.
ReedTMS’ brokerage network includes 19,000 active carriers and 70,000 approved carriers. Werner will gain access to ReedTMS’ over 800 customers, of whom there is little customer overlap, according to the press release. ReedTMS earned $372 million in revenue for the 12 months ended Sept. 30, 90% of which was earned from brokerage and the rest from trucking.
The leadership, drivers, and non-driver employees at ReedTMS will remain employed, and Werner will retain the ReedTMS brand. It will operate as a standalone business unit within Werner.
See also: Kodiak, Werner partner to run 24/7 autonomous long-haul freight operations
“We are thrilled to welcome the accomplished ReedTMS team to Werner. ReedTMS Logistics further strengthens our freight brokerage capabilities,” said Derek Leathers, Werner chairman, president, and CEO. “ReedTMS will elevate our logistics portfolio with new customers, by expanding and diversifying our industry verticals. This transaction continues to build upon our Werner DRIVE strategy and positions us for future profitable growth. We expect this acquisition to be accretive to diluted earnings per share in year one.”
ReedTMS CEO Jason Reed said, “We are excited to join the Werner team, who we have always considered an industry leader. Werner will enable us to achieve key goals, including creating broader opportunities for our associates, expanding our service capabilities for our customers, and helping us continue our quest to leverage best-in-class technology solutions for our associates, customers, suppliers, and other stakeholders.”
ReedTMS President Mark Reed Jr. said: “We believe the cultural fit between ReedTMS and Werner in terms of our people and our customers is a differentiator. We look forward to jointly growing our combined logistics business with Werner.”
