Business
Werner Enterprises Acquires Leading Final Mile Carrier NEHDS Logistics, LLC
Expands Werner Final Mile capabilities with a growing market leader primarily serving the Northeast U.S and Midwest and expanding in the Mid-Atlantic and
About this update from Werner Enterprises, Inc.
[{"type":"text","content":"Expands Werner Final Mile capabilities with a growing market leader primarily serving the Northeast U.S and Midwest and expanding in the Mid-Atlantic and Southeast.Integrates with Werner’s existing nationwide final mile home delivery network for big and bulky products to offer current and existing customers an expanded portfolio of transportation solutions.NEHDS Logistics, LLC achieved annual revenues of $71.4 million for the twelve months ended September 2021 and produced an average annual revenues growth rate of 27% over the last three years. NEHDS is expected to be accretive to Werner’s earnings per share in 2022. OMAHA, Neb., Nov. 29, 2021 (GLOBE NEWSWIRE) -- Werner Enterprises, Inc. (Nasdaq: WERN), one of the nation’s largest transportation and logistics companies, today announced it has signed a definitive agreement and has closed on the acquisition of NEHDS, based in Monroe, Connecticut, for a purchase price of $64 million, which includes a $4 million earnout. NEHDS operates a fleet of over 400 delivery trucks primarily in the Northeast and Midwest U.S. corridors. NEHDS delivers primarily big and bulky products using 2-person delivery teams performing residential and commercial deliveries through a network of 19 cross dock, warehouse and customer facilities. “The addition of the NEHDS operations, management team, talented staff and strong customer relationships to the Werner family represents a significant step forward in our Final Mile delivery program. The combination of award winning service that NEHDS provides to its clients, along with the comprehensive portfolio of trucking capability, final mile logistics services and technology will bring the Werner and NEHDS customer base many advantages,” said Derek Leathers, Chairman, President and Chief Executive Officer. NEHDS skilled drivers, operations team, independent contractors and facilities network strengthen our big and bulky products delivery offering by adding asset and employee-based operations with experience in complex deliveries to our already established national network of independent contractor agent locations. We expect this transaction to be accretive in 2022 and anticipate cost synergies in several areas of the business. Shared values of obtaining winning customers with high expectations, establishing long-term mutual service objectives, and delivering be...