WERN - Werner Enterprises acquires NEHDS to boost final mile capabilities

Werner Enterprises (NASDAQ:WERN) announces that it closed on a deal to acquire final mile carrier NEHDS for a purchase price of $64M, which includes a $4M earnout. NEHDS operates a fleet of over 400 delivery trucks primarily in the Northeast and Midwest U.S. corridors. The company  delivers primarily big and bulky products using two-person delivery teams performing residential and commercial deliveries through a network of 19 cross dock, warehouse and customer facilities. The deal is called a significant step forward in Werner's (WERN) Final Mile delivery program. The company financed the transaction through a combination of cash on hand and existing credit facilities. The Seeking Alpha Quant Rating on WERN stepped down to Neutral on October 11.

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Werner Enterprises acquires NEHDS to boost final mile capabilities