Schneider Acquires M&M Transport
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Schneider National Inc. announced that it is acquiring dedicated contract carrier M&M Transport Services.
Based in West Bridgewater, Mass., M&M primarily offers specialty services for the retail and manufacturing customers, Schneider said in an Aug. 2 release. M&M’s top 20 customers include Fortune 500 companies.
M&M has 500 trucks and 1,900 trailers across 12 U.S. locations in the Northeast, Midwest and Southwest.
The acquisition positions Schneider to generate $1.5 billion in annual dedicated contract revenues, and lifts its dedicated tractor count to 6,500 units, the company said.
Schneider announced today that it has purchased Dedicated truckload carrier, M&M Transport Services, LLC. M&M Transport will operate as a wholly owned subsidiary of Schneider, based in West Bridgewater, Massachusetts.
Read more in our news release: https://t.co/oduwB8C6o4 pic.twitter.com/Qnsl28NXx2 — Schneider (@WeAreSchneider) August 1, 2023
Schneider ranks No. 8 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
“By combining our respective expertise, knowledge and resources, we will be better positioned to meet the evolving needs of our customers and expand our reach in the Dedicated market,” said Schneider CEO Mark Rourke. “This is an exciting opportunity to leverage the best of both companies and use our complementary capabilities to deliver enhanced value to our customers and stakeholders.”
Rourke
M&M Transport, which has been in business for 30 years, will operate as a wholly owned subsidiary of Schneider.
“As a wholly owned subsidiary of Schneider, M&M Transport will continue to leverage our strengths while capitalizing on Schneider’s broad capabilities and resources to support continued growth and the consistent, reliable service that our customers expect from M&M Transport,” said M&M Transport founder Mark Warsofsky.
The acquisition is expected to be immediately accretive to Schneider’s earnings per share. M&M’s financial results will be reported as part of Schneider’s dedicated operations in its truckload segment beginning in the third quarter.
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