Werner Enterprises Closes $245M FirstFleet Deal, Targets $18M Synergies and Dedicated Growth

Core Viewpoint - Werner Enterprises has acquired FirstFleet to enhance its dedicated transportation platform and expand its operational scale, particularly in the eastern U.S. [1] Transaction Overview and Closing - The acquisition was completed on January 27, 2026, for a total of $245 million for 100% equity in FirstFleet, along with an additional $37.8 million for certain real estate assets [2] - The deal was financed through cash reserves, borrowings from Werner's revolving credit facility, and the assumption of certain capital leases [2] Management and Operational Structure - FirstFleet's management will largely remain intact, and it will function as a business unit within Werner's Truckload Transportation Services segment, with results integrated into quarterly reporting [3] FirstFleet Profile and Combined Scale - FirstFleet, founded in 1986 and based in Murfreesboro, Tennessee, generated over $615 million in annual revenue for the twelve months ending September 30, 2025, operating around 2,400 tractors and 11,000 trailers [4] - The combined revenue for Werner, post-acquisition, is projected to rise from approximately $3.0 billion to about $3.6 billion, with a fleet of over 9,800 trucks [5] Shift Toward Dedicated and Network Footprint - The acquisition will shift Werner's revenue mix further towards dedicated services, increasing from roughly 43% to approximately 52% of total revenues, while one-way truckload and logistics will account for about 22% and 24%, respectively [6]