Werner said the acquisition would also increase its exposure to the 200-to-300- mile length of haul segment, in support of expected continued demand growth in that next- and second-day lane. “The addition of ECM’s skilled drivers, non-driver associates and terminal network strengthens our portfolio by adding short-haul expertise in a segment in which consumer demand and supply chain needs are growing,” Derek Leathers, Werner’s chairman, president and CEO said in a statement.īesides expanding Werner’s footprint in the Mid-Atlantic, Ohio and Northeast regions, Werner said the acquisition was complementary to Werner’s existing terminal footprint. It said ECM was committed to delivering unique, high-value and customized solutions to its customers. Werner said that ECM was initially founded as a traditional truckload carrier, but has diversified itself as a transportation solutions provider and technology innovator in recent years.
They have been providing truckload services for over 30 years. It operates nearly 500 trucks and 2,000 trailers in their network of eight terminals and 18 drop yard facilities.īesides its 80% equity ownership stake in ECM for $142.4 million, Werner said it had retained an exclusive option to buy the remaining 20% of ECM Transport Group after a period of five years.ĮCM Transport Group consists of ECM Transport, with approximately 450 trucks headquartered in Cheswick, Pa., and Motor Carrier Services of Pennsylvania, headquartered in Northwood, Ohio with approximately 50 trucks. Werner said the acquisition was expected to be accretive to adjusted earnings per share within the first year.
Privately held ECM achieved 2020 revenues of $108 million, with an operating margin of 19.8%.
The acquisition of ECM will boost Omaha, Neb.-based Werner’s fleet by more than 6% as well as increasing coverage for regional short-haul freight in these geographic markets. Werner Enterprises, the nation’s seventh-largest truckload carrier with more than $2.4 billion revenue last year, recently announced it is acquiring 80% of rival TL carrier ECM Transport Group to expand its presence in the strategic Mid-Atlantic, Ohio and Northeast regions.
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