OMAHA, Neb. — Werner Enterprises Inc. has signed a definitive agreement and closed on the acquisition of FAB9, Inc., doing business as Baylor Trucking Inc.
Founded in 1946, Baylor operates 200 trucks and 980 trailers in the east central and south-central U.S., with itsnetwork of two terminals.
“Baylor, with its highly-skilled professional drivers and non-driver associates, further strengthens our portfolio with their exceptional service and stellar reputation,” said Derek Leathers, chairman, president and CEO at Werner. “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.”
Werner touts the following strategic and financial benefits of the acquisition.
- Addition of 234 highly-skilled, tenured and professional drivers.
- Fleet of 200 trucks (170 company and 30 independent contractor) and 980 trailers.
- Existing Baylor leadership (including President Cari Baylor), drivers and non-driver associates will remain in place, and we are retaining the Baylor brand to ensure smooth integration and high driver retention.
- Freight revenues mix of one-way dry van (51%), expedited dry van (42%) and refrigerated (7%).
- Adds high-quality driver and non-driver talent and increases Werner’s fleet size by 2.4%.
- Buying power synergies are expected through combined management of our two fleets.
- Both Werner and Baylor have similar cultures that are intensely focused on safety and superior customer service.
- Shared values of working with winning customers with high expectations, establishing long-term mutual service and revenue objectives, and delivering best-in-class performance to stabilize volume and minimize churn.
- Baylor 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.
Leathers continued, “Both Werner and Baylor believe deeply that our professional drivers are the backbone of our companies. 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.”
Cari Baylor, president of Baylor Trucking, said she has admired and respected Werner for a long time as an industry leader.
“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.”
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