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Werner Boosts Dedicated Unit With FirstFleet Acquisition
Carrier Pays $282.8 Million to Expand Eastern US Network Density
Key Takeaways:
- Werner said it will acquire dedicated truckload carrier FirstFleet and related real estate for $282.8 million, positioning the combined company as the fifth-largest dedicated carrier by power units.
- The deal adds about 2,400 tractors, 11,000 trailers and 130 customer sites, boosting Werner’s dedicated revenue about 50%.
- Werner said the acquisition, funded by cash and a credit facility, is expected to lift total revenue 20% and will keep FirstFleet operating as a unit within its truckload segment.
Werner Enterprises is set to acquire privately owned dedicated truckload specialist FirstFleet and associated real estate for a combined $282.8 million as the carrier continues to add strength in the higher-margin sector of the market, the company said Jan. 28.
Murfreesboro, Tenn.-based FirstFleet brings Werner about 2,400 tractors, 11,000 trailers and 37 properties near 130 customer sites around the U.S., Werner said, adding that the deal would position the combined company as the fifth-largest dedicated carrier in the country by power units.
The company said the deal would raise its dedicated revenue by about 50% and increase its share of “more resilient” market segments, such as groceries, baked goods and corrugated packaging.
Werner ranks No. 18 on the Transport Topics Top 100 list of the largest for-hire carriers in North America, with around 9,800 tractors, more than 25,000 trailers and over 13,000 employees. It also ranks No. 32 on the TT Top 100 logistics companies list.
Omaha, Neb.-based Werner ranks No. 8 on TT’s list of the largest truckload/dedicated carriers, while FirstFleet ranks No. 16.
FirstFleet ranks No. 67 on the overall for-hire TT100, employing around 3,500 staff, according to TT data.
Welcome to #TeamBlue, FirstFleet! 🤝
Today, Werner officially acquired FirstFleet, Inc., making us the 5th largest Dedicated carrier in North America!
Read the official press release here ➡️ https://t.co/b1atFaoHf4 | @fftitrans pic.twitter.com/tIj4lQVnNv — Werner Enterprises (@One_Werner) January 28, 2026
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“Powered by the talent of our combined associates, this partnership comes at the ideal moment for our company. By uniting FirstFleet’s expertise in complementary new verticals with our resources and nearly 5,000 dedicated trucks, we will improve our competitive position and accelerate profitable growth,” Werner CEO Derek Leathers said in a statement accompanying the announcement.
“We have found a strong cultural fit with a shared commitment to safety, service and innovation. Together, we are better positioned to drive tech-enabled solutions and deliver lasting value for our customers, drivers and shareholders,” Leathers added.
The combined dedicated unit will operate 7,365 trucks and nearly 40,000 trailers as well as adding network density in the eastern U.S., Werner said.
FirstFleet — whose more than 2,600 drivers are all company employees — will operate as a business unit within Werner’s Truckload Transportation Services segment, complementing the existing dedicated division.
Werner plans to retain the majority of FirstFleet’s management and maintain its headquarters in Murfreesboro, it said.
The associated real estate purchase comprises 11 properties at a price of $37.8 million.
The deal is expected to drive a 20% increase in Werner’s total revenue, a 30% rise in TTS revenue and a 50% jump in dedicated revenue, Leathers told analysts during a Jan. 28 call on the acquisition.
It is being funded using operating cash on hand and an existing revolving credit facility, Werner said.
“We’ve been very deliberate over the past few years about transitioning our portfolio increasingly towards the higher-margin dedicated trucking business, a $30 billion-plus total addressable market that is more resilient, contract-based and protected by high barriers to entry,” Leathers said during the call.
“Differentiators like scale, flexibility and industry expertise are critical here, and addressing complex customer needs drives higher margins, strong customer retention and robust cross-selling opportunities. That’s exactly what FirstFleet delivers,” he added.
“Our ability to bring a better overall solution with the density that this provides is something we’re real excited about,” he said. “In dedicated, although the assets are in fact dedicated to particular customers, the more density and more other fleets you have in the neighborhood, in the vicinity — regionally or otherwise — just gives you the opportunity for you to bring surge capabilities and all kinds of additional capacity. And really, basically simultaneously give the customer a better product while giving ourself a lower cost to serve.”
Following the deal, Werner’s position with national retailers will be stronger, the company’s top executive said.
Also, FirstFleet would add “unique capabilities” in non-commoditized corrugated box services, serving large customers with high volume in the e-commerce and manufacturing segments, he added, noting that demand in the two sectors was recovering.
“FirstFleet’s operating margins have been profitable and durable through this prolonged and challenging downturn,” Chief Financial Officer Chris Wikoff said.
“The relationships with customers they have with customers are extremely strong,” Leathers said.
