Schneider buys MLS
Wisconsin-headquartered Schneider National is acquiring Ohio-based truckload carrier Midwest Logistics Systems (MLS). MLS has about 1,000 professional drivers, an important asset in times of driver shortage, and 900 tractors in 30 different locations in USA.
While its annual revenue is approximately USD 205 million, the enterprise value of the transaction was USD 263 million. The brand will be maintained and the company will run as an independent subsidiary.
Schneider’s CEO Mark Rourke: “With this acquisition, we believe Schneider is on track to generate USD 1 billion in annual revenue in our dedicated operations with over 5,000 trucks.” (sh)