Werner buys Florida logistics-brokerage company

Werner Enterprises has absorbed another company – Tampa, Fla.-based ReedTMS Logistics – for $112 million.

Werner has acquired 100% of the stock of Reed Transport Services Inc. and RTS-TMS Inc., which do business as ReedTMS Logistics, according to a news release.

ReedTMS is an asset-light third-party logistics provider and truckload carrier that has a freight brokerage network of 19,000 active carriers and 70,000 approved carriers.

The mega carrier intends to retain the ReedTMS brand. ReedTMS will operate as a standalone business unit within the company. It will report its freight brokerage financial results to the Werner Logistics segment and its truckload financial results in the Dedicated business unit in Werner’s Truckload Transportation Services segment.

Revenue for the 12 months ending Sept. 30 for ReedTMS Logistics was $372 million, according to information provided by Werner. The revenue is split 90% freight brokerage and 10% trucking.

ReedTMS brings 800 customers to Werner. Two-thirds of its revenues come from food and beverage industries. Werner reports there is little overlap with its top 10 customers. Reed TMS freight brokerage revenues are 65% contractual and 35% transactional.

ReedTMS Logistics was founded in 1996 by Mark Reed Sr., the father of CEO Jason Reed and President Mark Reed Jr. It has operating centers in Florida and Wisconsin and logistics branch offices in Alabama, Ohio, Pennsylvania and Florida.

Omaha, Neb.-based Werner Enterprises was founded in 1956 by Clarence Werner. The company reports having more than 8,000 trucks and more than 24,000 trailers. In July 2021, the carrier acquired ECM Transport Group, which added 500 trucks and 2,000 trailers to the its fleet and added eight terminals and 18 drop yards facilities.  LL

More business news is available on LandLine.Media.