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SEARCHWerner Enterprises said its latest acquisition will "elevate [its] logistics portfolio."
Werner's latest acquisition is ReedTMS Logistics, an asset-based third-party logistics provider in business for more than 20 years.
Photo: Werner Enterprises via Twitter
Werner Enterprises announced that it’s strengthening its brokerage capabilities with the acquisition of ReedTMS.
The Omaha, Nebraska-based carrier said it had closed on the acquisition of 100% of the stock of Reed Transport Services Inc. and RTS-TMS, Inc., doing business as ReedTMS Logistics.
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.
The acquisition “further strengthens our freight brokerage capabilities,” said Derek Leathers, Werner chairman, president and CEO. “ReedTMS will elevate our logistics portfolio with new customers, by expanding and diversifying our industry verticals.”
ReedTMS had revenues of $372 million for the 12 months ended Sept. 30, 2022, 90% freight brokerage and 10% trucking. It has more than 800 customers, with two-thirds of revenues in the food and beverage industries and minimal customer overlap with Werner. It has an extensive freight brokerage network with 19,000 active carriers and 70,000 approved carriers
ReedTMS will operate as a standalone business unit within Werner. Its freight brokerage financial results will be reported in the Werner Logistics segment and ReedTMS’ truckload financial results will be reported in the Dedicated business unit in Werner’s Truckload Transportation Services segment
“We are excited to join the Werner team, who we have always considered an industry leader,” said Jason Reed, CEO of ReedTMS Logistics.
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