Werner Deal Makes It One of the Biggest Dedicated Carriers

Werner Enterprises Acquires FirstFleet, Grows Dedicated Trucking Operations

Werner Enterprises, Inc. has announced the acquisition of FirstFleet, Inc., a privately owned Dedicated trucking company. The deal was announced on January 28, 2026.

The acquisition expands Werner’s presence in the Dedicated trucking market. It also increases revenue from long-term contract freight and strengthens the company’s overall trucking network.

Transaction Valued at About $282.8 Million

Werner said it will acquire FirstFleet for approximately $245 million in cash. The company will also buy FirstFleet-owned real estate in a separate transaction. The real estate purchase totals $37.8 million.

Together, the transactions are valued at approximately $282.8 million. The real estate includes 11 properties located near customer sites across the country.

FirstFleet Adds Equipment and Customer Scale

FirstFleet is headquartered in Murfreesboro, Tennessee. The company has operated for nearly 40 years. It focuses on Dedicated Contract Carriage and long-term customer relationships.

FirstFleet operates about 2,400 tractors and 11,000 trailers. It also owns or operates 37 properties located near roughly 130 customer locations nationwide.

The company serves stable end markets. These include grocery distribution, bakery goods, and corrugated packaging. FirstFleet’s top 10 customers have an average relationship length of 17 years.

Werner Becomes a Top Dedicated Carrier

With the addition of FirstFleet, Werner said it will become the fifth-largest Dedicated carrier in the United States based on power units.

The company expects Dedicated revenues to grow by about 50 percent after the acquisition. Werner has been increasing its focus on Dedicated freight over the past several years. The segment typically provides higher margins and long-term contracts.

As of September 30, 2025, the combined companies operated approximately 7,365 Dedicated trucks and nearly 40,000 trailers.

Financial Impact and Expected Benefits

FirstFleet generates more than $615 million in annual revenue. The company has maintained consistent operating income margins.

Werner said the acquisition is expected to be immediately accretive to earnings per share. Additional earnings growth is expected within the first two years. That growth is tied to about $18 million in expected annual synergies.

The company also expects the deal to increase free cash flow. The company cited FirstFleet’s strong cash flow conversion history.

Leadership Comments on the Acquisition

Werner Chairman and CEO Derek Leathers said the timing of the transaction aligns well with the company’s strategy.

“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,” Leathers said.

He also said the companies share similar values around safety, service, and innovation.

Paul Wilson, one of FirstFleet’s owners, also commented on the transaction.

“Since 1986, FirstFleet has delivered exceptional growth by treating our team members and customers like family,” Wilson said. “In choosing to combine with Werner, we are joining a leader in our industry with a proud history of caring deeply about their associates and customers.”

How the Companies Will Operate Going Forward

FirstFleet will operate as a business unit within Werner’s Truckload Transportation Services segment. It will complement the existing Dedicated division.

The company plans to retain most of FirstFleet’s management team. They will also keep FirstFleet’s headquarters in Murfreesboro, Tennessee.

Why the Werner Deal Matters for Trucking

The acquisition increases Werner’s exposure to long-term contract freight. Dedicated freight often offers more predictable lanes and steady volume.

They said the expanded network should improve asset use, purchasing power, and operating efficiency. The company also expects stronger network density across the eastern half of the United States.