Schneider acquires Wisconsin-based carrier deBoer Transportation
PRESS RELEASE Schneider acquires Wisconsin-based carrier deBoer Transportation June 07, 2022 12:00 PM Eastern Daylight Time GREEN BAY, ...
TSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARDCHRW: PAYOUT UNCHANGEDWTC: NEW HIGH MAERSK: 'AFLOAT IN A SEA OF RISK' F: TARIFF TRAFFIC WARNINGHON: GAUGE THE UPSIDEXPO: STELLAR EARNINGS DELIVERYMAERSK: DEMAND DISRUPTION RISKMAERSK: FOCUS ON MARGIN IN LOGISTICS AND SERVICESMAERSK: GROWTH UNDERPERFORMANCE IN OCEAN MAERSK: WHY IS GEMINI SUCH A GOOD IDEA MAERSK: INTEGRATOR STRATEGY MAERSK: EIGHT YEARS AFTER THE LAUNCH OF THE INTEGRATOR STRATEGYMAERSK: FOCUS ON DEALS MAERSK: QUESTION TIME WITH FOCUS ON MSC AND DEALS
TSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARDCHRW: PAYOUT UNCHANGEDWTC: NEW HIGH MAERSK: 'AFLOAT IN A SEA OF RISK' F: TARIFF TRAFFIC WARNINGHON: GAUGE THE UPSIDEXPO: STELLAR EARNINGS DELIVERYMAERSK: DEMAND DISRUPTION RISKMAERSK: FOCUS ON MARGIN IN LOGISTICS AND SERVICESMAERSK: GROWTH UNDERPERFORMANCE IN OCEAN MAERSK: WHY IS GEMINI SUCH A GOOD IDEA MAERSK: INTEGRATOR STRATEGY MAERSK: EIGHT YEARS AFTER THE LAUNCH OF THE INTEGRATOR STRATEGYMAERSK: FOCUS ON DEALS MAERSK: QUESTION TIME WITH FOCUS ON MSC AND DEALS
Transpot Topics reports:
Schneider National is growing its dedicated operations with the acquisition of truckload carrier Midwest Logistics Systems.
The Green Bay, Wis.-based transportation, intermodal and logistics services provider acquired 100% of the equity interest in the Celina, Ohio, company in a deal announced Jan. 4.
The carrier will run as an independent subsidiary with its professional drivers and associates continuing to operate under the Midwest Logistics Systems name.
“Preserving the MLS identity is essential,” Schneider CEO Mark Rourke said in a statement. “The carrier’s family-owned nature combined with its strong culture and customer service make it a valuable contributor for growing Schneider’s dedicated operations.”
MLS is a dedicated carrier with more than 1,000 professional drivers and 900 tractors in 30 central U.S. locations. Its annual revenue is approximately $205 million. Schneider said the acquisition is expected to be immediately accretive to its earnings per share. MLS financial results will be reported in dedicated operations as part of the truckload segment beginning in the first quarter of this year.
“With this acquisition, we believe Schneider is on track to generate $1 billion in annual revenue in our dedicated operations with over 5,000 trucks,” Rourke said.
The enterprise value of the transaction was about $263 million. Schneider financed the deal through cash on hand. Scopelitis, Garvin, Light, Hanson & Feary served as Schneider’s adviser, and Frost Brown Todd advised Midwest Logistics Systems…
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