Schneider National buys Ohio carrier Midwest Logistics
Green Bay, Wis.-based Schneider National Inc. has bought Celina, Ohio-based Midwest Logistics Systems.
Schneider acquired 100% of the equity interest in Midwest Logistics, according to a news release. Schneider said it funded the acquisition, which closed on Dec. 31, with cash on hand.
Schneider plans to run the carrier will run as an independent subsidiary of Schneider. MLS professional drivers and associates will continue to operate under the MLS name.
Midwest Logistics has1,000 drivers who operate 900 tractors across 30 central U.S. locations.
“Preserving the MLS identity is essential. 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,” Schneider President and CEO Mark Rourke said in a news release. “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.”
Midwest Logistics Systems’ annual revenues are about $205 million. The acquisition is expected to be immediately accretive to Schneider’s earnings per share, Schneider reported. Midwest Logistics’ financial results will be reported in dedicated operations as part of the truckload segment beginning in the first quarter 2022.
Schneider National was founded in 1935. It has nearly 4.6 billion in revenue. Schneider reports on its website having 6,342 drivers and 40,000 carriers, and 2,800 owner-operator business relationships.
Schneider offers regional and long-haul truckload, expedited, dedicated, bulk, intermodal, brokerage, warehousing, supply chain management, port logistics and logistics consulting services. LL
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