OMAHA, Neb. — Werner Enterprises Inc. has made two major acquisitions in a month’s time.
On Nov. 7, the company announced it had acquired 100% of Reed Transport Services Inc.’s stock, along with the stock of RTS-TMS Inc., doing business as ReedTMS Logistics.
And on Oct. 3, Werner signed a definitive agreement and closed on the acquisition of FAB9 Inc., doing business as Baylor Trucking, Inc.
“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 at Werner. “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, founded in 1996 and based in Tampa, Florida, is an asset-light logistics provider and truckload carrier that offers a suite of freight brokerage and truckload solutions, a news release stated.
“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.”
As for Baylor, it will operate as a standalone business unit within Werner, and their financial results will be reported in Werner’s One-Way Truckload unit within Truckload Transportation Services, the news release stated.
“Baylor, with its highly-skilled professional drivers and non-driver associates, further strengthens our portfolio with their exceptional service and stellar reputation,” Leathers said. “I have known Cari Baylor for many years, and I have tremendous respect for what Cari, her family and her leadership team have created at Baylor. This acquisition delivers on our Werner DRIVE strategy and will position us for further growth. We expect this transaction to be accretive in year one and anticipate buying power synergies through integrated management of our combined fleets.”
Baylor operates a fleet of 200 trucks — 170 company and 30 independent contractor rigs — and 980 trailers.
Existing Baylor leadership, including President Cari Baylor, drivers and non-driver associates will remain in place, and Werner officials say they are retaining the Baylor brand “to ensure smooth integration and high driver retention.”
“Both Werner and Baylor believe deeply that our professional drivers are the backbone of our companies,” Leathers said. “Both companies were founded by their first driver. We look forward to welcoming the Baylor team and working together to create additional value for our customers and shareholders.”
Baylor Trucking President Cari Baylor said she has long admired and respected Werner.
“We are extremely excited to join the Werner team and look forward to continued growth as we leverage the strengths of Baylor and Werner to serve our existing and new customers at even higher levels,” Baylor said. “We will stand by our customers and continue to provide them with the superior service they expect from Baylor. Aligning with Werner only expands our service capabilities. Werner shares our passion for delivering value and continually creating personal and professional opportunities for our elite Baylor team.”
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
