Werner acquiring Reed TMS Logistics
Summary
Werner Enterprises acquired 100% of the equity interests of Reed Transport Services, Inc. and RTS-TMS, Inc., doing business as ReedTMS Logistics, based in Tampa, Florida, for $112.4 million. 13) is acquiring Tampa, Florida-based ReedTMS Logistics, an asset-light logistics provider and truckload carrier that offers a suite of freight brokerage and truckload solutions, for $112.4 million. The company serves more than 800 customers, but two-thirds of its business comes from the food and beverage industries. "ReedTMS will elevate our logistics portfolio with new customers, by expanding and diversifying our industry verticals," said Werner Chairman, President and Chief Executive Officer Derek Leathers. ReedTMS Logistics CEO Jason Reed said partnering with Werner will enable the company "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.” Werner in October acquired Milan, Indiana-based truckload carrier Baylor Trucking – its first acquisition since 2021, when it acquired an 80% equity ownership stake in Pennsylvania-based regional hauler ECM Transport Group for $142.4 million (Werner has an option to buy the remaining 20% of the company after five years), and final-mile carrier Nehds Logistics for $64 million.