Schneider to expand with acquisition of dedicated carrier

MLS is a leading dedicated carrier with over 1,000 professional drivers, operating 900 tractors across 30 central U.S. locations

Schneider is growing its dedicated operations with the acquisition of Ohio-based truckload carrier, Midwest Logistics Systems (MLS).

MLS is a leading dedicated carrier with over 1,000 professional drivers, operating 900 tractors across 30 central U.S. locations.

Schneider has acquired 100% of the equity interest in MLS. The carrier will run as an independent subsidiary of Schneider. MLS professional drivers and associates will continue to operate under the MLS name.

“Preserving the MLS identity is essential. 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,” said Schneider President and CEO Mark Rourke. “With this acquisition, we believe Schneider is on track to generate $1 Billion in annual revenue in our dedicated operations with over 5,000 trucks.”

MLS annual revenues are approximately $205 million*, and the acquisition is expected to be immediately accretive to Schneider’s earnings per share. MLS financial results will be reported in dedicated operations as part of the Truckload segment beginning in the first quarter of 2022.

“Schneider is a well-established company and a great cultural fit,” said MLS Vice President Dave DeMoss. “We are excited to be a key component to Schneider’s dedicated growth strategy.”

The enterprise value of the transaction was approximately $263 million. Schneider financed the transaction through cash on hand. Scopelitis, Garvin, Light, Hanson & Feary served as Schneider’s transaction and legal advisor and Frost Brown Todd served as Midwest Logistics Systems, Ltd.’s transaction and legal advisor. To learn more about the transaction, go to investors.schneider.com. To learn more about Schneider, go to schneider.com.

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