Dive Brief:
- Werner Enterprises announced Monday it had closed on the acquisition of Indiana-based truckload carrier Baylor Trucking.
- Baylor will bring its $81.5 million in annual revenue, 234 drivers, 200 trucks and 980 trailers with it to Werner. The price of the deal was not disclosed.
- Baylor will become a standalone business within Werner. The company will keep its leadership and staff, and Werner is "retaining the Baylor brand to ensure smooth integration and high driver retention," the carrier said in the release.
Dive Insight:
M&As have allowed companies to move forward at a time when competitive challenges continue over driver recruitment and retention.
“Both Werner and Baylor believe deeply that our professional drivers are the backbone of our companies,” said Werner CEO Derek Leathers, noting the deal will position the carrier for growth.
Werner employed 9,988 drivers at the end of 2021, according to its annual report.
In addition to adding drivers, the deal increases Werner’s fleet size by 2.4%, provides buying power synergies and strengthens its portfolio, the carrier and logistics provider said. Baylor’s freight mix includes one-way dry-van, expedited dry-van and refrigerated trucking.
“Aligning with Werner only expands our service capabilities,” Baylor Trucking President Cari Baylor, said in the release.
Werner and Baylor Trucking join a growing list of M&A deals in 2022.
In June, P.A.M. Transportation Services announced the acquisition of Metropolitan Trucking, and Heartland Express also announced its acquisition of Smith Transport the same month. Meanwhile, USA Truck shareholders approved a deal last month to go private with DB Schenker.
Clarification: This story was updated to state that P.A.M. Transportation Services was involved in the Metropolitan Trucking acquisition.
