Mega-carrier Schneider intends to pursue an initial public offering of common stock next year, per a statement it released on Oct. 7.
According to the privately held motor carriage and logistics firm, the IPO will facilitate “continuity of controlling ownership of Schneider by the future generations of the Schneider family… and to maintain and further investments in its long-term positioning. The Schneider family and the board of directors believe the planned transaction is in the best interests of Schneider, its associates, customers, and shareholders.”
Green Bay-based Schneider reportedly recorded $4 billion in revenue for 2015.
Back in June, the company announced the simultaneous acquisitions of specialized carrier Watkins & Shepard and supply-chain tech firm Lodeso to strengthen the carrier’s Final Mile+ offering, which provides customized home, commercial and retail delivery services. “The ability to provide differentiated experiences for retailers, manufacturers and consumers is a primary area of strategic growth for Schneider,” Chris Lofgren, Schneider president and CEO, noted at the time.