Schneider has agreed to acquire 100% of the equity interest in truckload carrier Midwest Logistics Systems (MLS) in a deal announced on January 4, 2022. The enterprise value of the transaction was about $263m.
Under the agreement, the carrier will run as an independent subsidiary with its professional drivers and associates continuing to operate under the Midwest Logistics Systems name.
Schneider’s CEO Mark Rourke commented: “The carrier’s family-owned nature combined with its strong culture and customer service make it a valuable contributor for growing Schneider’s dedicated operations.”
MLS has more than 1,000 professional drivers and 900 tractors in 30 central U.S. locations. Its annual revenue is approximately $205m. “With this acquisition, we believe Schneider is on track to generate $1bn in annual revenue in our dedicated operations with over 5,000 trucks,” Rourke added.
Source: Schneider
