FIRSTFLEET has been 100% owned by WERNER ENTERPRISES since January 2026.

At what enterprise value was FIRSTFLEET acquired in 2026?

During the acquisition of FIRSTFLEET by WERNER ENTERPRISES in 2026, the transaction's Enterprise Value is estimated to be in the range of $100–350M.

What was the EV/Revenue multiple of FIRSTFLEET when it was acquired by WERNER ENTERPRISES?

The estimated EV/Revenue multiple for FIRSTFLEET is in the range of below 1.5x.

When was FIRSTFLEET acquired by WERNER ENTERPRISES?

FIRSTFLEET was acquired by WERNER ENTERPRISES in 2026.

What was the revenue of FIRSTFLEET at the time of the deal?

The revenue of FIRSTFLEET at the time of the deal is estimated to be in the range of $450–900M.

How is the data for the FIRSTFLEET acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the FIRSTFLEET deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.investing.com/news/company-news/werner-acquires-firstfleet-for-245-million-to-become-fifthlargest-dedicated-carrier-93CH-4470203

What is the average EV/EBITDA multiple for the Business Services sector in 2026?

The average EV/EBITDA multiple for the Business Services sector in 2026 is 11.4x.

← DATABASE

Home Database Business ServicesFIRSTFLEET

01/2026

FIRSTFLEET acquired by WERNER ENTERPRISES

UNITED STATES Transport & Logistics / Freight Transport EV $100–350M

Context

Werner Enterprises acquired FirstFleet, Inc. for $245 million in cash for the operating business The acquisition is immediately accretive to EPS and establishes Werner as the 5th largest dedicated carrier in the U.S., increasing its dedicated revenue by ~50%. The deal aims to capture $18 million in annual synergies within two years by optimizing purchasing power and fleet density in the Eastern U.S.

FIRSTFLEET, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

Target

Headquartered in Tennessee, FirstFleet is a leading provider of dedicated trucking services in the United States. Operating a fleet of approximately 2,400 tractors and 11,000 trailers, the company serves over 130 customer sites with a focus on resilient, high-volume verticals such as grocery, bakery goods, and corrugated packaging. FirstFleet distinguishes itself through long-term customer relationships (average 17-year tenure for top clients) and a consistent financial profile, generating over $615 million in annual revenue.

Ent. Value

$100–350M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (USD)

Year

Rev

EBITDA

EBIT

2025

2024

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REFERENCES

Valuation range: EV $100–350M

Revenue range: $450–900M

EV/Revenue range: below 1.5x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of FIRSTFLEET by WERNER ENTERPRISES are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.