Transportation and logistics provider Werner Enterprises has acquired 100% of the stock of Reed Transportation Services, Inc. and RTS-TMS, Inc., doing business as ReedTMS Logistics, the company said this week.
Based in Tampa, ReedTMS Logistics is an asset-light logistics provider and truckload carrier offering a suite of freight brokerage and truckload solutions to a diverse customer base, Werner officials said in a press release Monday.
The purchase strengthens Werner’s freight brokerage capabilities and expands its customer base. ReedTMS had revenues of $372 million for the 12 months ended September 30, 2022. The company has more than 800 customers, with two-thirds of revenues coming from food and beverage industries, according to the release.
ReedTMS will operate as a standalone business unit within Werner.
The purchase price of the deal was $112.4 million, according to Akerman LLP, which represented ReedTMS in the sale.