A Tampa logistics company has been acquired by a public Nebraska corporation in a deal worth $112.4 million.
ReedTMS Logistics on Monday announced it had been purchased by Omaha’s Werner Enterprises Inc., placing it under the umbrella of one of the largest transportation and logistics corporations in North America.
Founded in 1996, ReedTMS had revenues of $372 million in the year leading up to Sept. 30. It has more than 800 customers, many in the food and beverage industry, and 19,000 active carriers. The company will exist as its own standalone brand within Werner.
“We are excited to join the Werner team, who we have always considered an industry leader,” ReedTMS CEO Jason Reed said in a statement. “Werner will enable us 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 CEO and president Derek Leathers said the company expects the acquisition to increase diluted earnings per share within the next year. The company reported revenues of $2.7 billion in 2021.
“ReedTMS will elevate our logistics portfolio with new customers by expanding and diversifying our industry verticals,” Reed said in a statement. “This transaction continues to build upon our Werner DRIVE strategy and positions us for future profitable growth.”