WERN - Werner Enterprises acquires 80% stake in truckload carriers ECM transport for $142.4M

Werner Enterprises (WERN) acquired an 80% equity stake in ECM Transport Group for $142.4M and retained an exclusive option to buy the remaining 20% of the truckload carrier after five years.ECM's Founder and President Ed Meier will retain the remaining 20% ownership in ECM.Werner said the acquisition expands its footprint in the strategic Mid-Atlantic, Ohio and Northeast regions.ECM consists of ECM Transport and Motor Carrier Services of Pennsylvania who are regional truckload carriers that operate nearly 500 trucks and 2K trailers in their network of 8 terminals and 18 drop yard facilities.Werner said ECM will operate as a standalone business unit within the company and their financial results will be reported in Werner's One-Way Truckload unit within Truckload Transportation Services.The company said ECM generated $108M in revenues, with an operating margin of 19.8%. Werner expects the transaction to be accretive to adjusted EPS in year one."The addition of ECM’s skilled drivers, non-driver associates

For further details see:

Werner Enterprises acquires 80% stake in truckload carriers ECM transport for $142.4M