Schneider National acquired Massachusetts-based M&M Transport Services this week.
M&M is a dedicated contract carrier that owns 500 trucks and 1,900 trailers spread across 12 locations throughout the Northeast, Midwest and Southwest, Schneider said in an Aug. 1 press release. The company primarily serves the retail and manufacturing segments.
The deal is expected to propel Schneider’s dedicated contract revenues to $1.5 billion this year, the company said. Schneider said M&M’s financial results will be included in its Q3 earnings in its dedicated operations as part of its truckload segment.
“By combining our respective expertise, knowledge and resources, we will be better positioned to meet the evolving needs of our customers and expand our reach in the dedicated market,” Schneider President and CEO Mark Rourke said in a statement.
Recent acquisitions have bolstered Schneider’s dedicated segment, which the carrier has targeted as a growth area. In January 2022 the company announced it closed on its purchase of Ohio-based Midwest Logistics Systems for $263 million and followed up that deal by acquiring deBoer Transportation in June 2022.
M&M Transport will retain its name as it operates as a wholly owned subsidiary of Schneider.
“M&M Transport will continue to leverage our strengths while capitalizing on Schneider’s broad capabilities and resources to support continued growth and the consistent, reliable service that our customers expect from M&M Transport,” M&M Transport Founder Mark Warsofsky said in a statement.