Schneider National, Inc. announced Aug. 1 it has acquired M&M Transport Services, LLC, based in West Bridgewater, Massachusetts, for an undisclosed sum.
M&M Transport is a dedicated contract carrier that primarily provides specialty solutions for the retail and manufacturing verticals. Its top 20 customers include many Fortune 500 companies.
The dedicated carrier deploys approximately 500 trucks and 1,900 trailers across 12 locations in the Northeast, Midwest and Southwest.
The acquisition complements Schneider’s dedicated organic growth and places Schneider on a glidepath toward $1.5 billion in annual dedicated contract revenue and 6,500 dedicated tractors in service.
“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 President and 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.”
M&M Transport has a 30-year history of growth and will operate as a wholly owned subsidiary of Schneider, continuing the successful trajectory with its associates and trusted brand.
“Both companies have a successful history of dedicated operational excellence, a reputation for superior customer service and a common foundation of core values – so our cultures are an excellent match,” said M&M Transport Founder Mark Warsofsky. “Now, 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.”
The acquisition is expected to be immediately accretive to Schneider’s earnings per share. M&M Transport financial results will be reported in dedicated operations as part of the truckload segment beginning in the third quarter of 2023.
Last year, Schneider acquired dedicated carrier Midwest Logistics Systems in a $263 million deal. The company had 900 tractors and $170 million in annual revenue (excluding fuel surcharges) at the time.
