Omaha-based Werner Enterprises announced its acquisition of ReedTMS Logistics for $112.4 million on Monday, November 7th.
The acquisition includes 130 trucks and 775 trailers. ReedTMS was founded in 1996 and is based in Tampa, Florida. It will continue to operate as a stand-alone business within Werner.
“We are thrilled to welcome the accomplished ReedTMS team to Werner. ReedTMS Logistics further strengthens our freight brokerage capabilities,” said Derek Leathers, Chairman, President and Chief Executive Officer, in a press release.
“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.”
“We are excited to join the Werner team, who we have always considered an industry leader,” said Jason Reed, CEO of ReedTMS Logistics. “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.”
“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,” said Mark Reed, Jr., President of ReedTMS Logistics.
Just last month, Werner acquired Baylor Trucking, based in Milan, Indiana, for $95 million.