FIRSTFLEET
Acquired by
WERNER ENTERPRISES
FIRSTFLEET acquired by WERNER ENTERPRISES
Target
FIRSTFLEET
Acquirer
WERNER ENTERPRISES
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.
The transaction values FIRSTFLEET at an EV/Revenue multiple of LOGIN.
This transaction is part of the Business Services industry, which currently tracks an average EBITDA multiple of 11.3x since the beginning of 2026, a stable level compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
-> 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
LOGIN
Equity Value
LOGIN
Multiples Analysis
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (EUR)
Other operations with FIRSTFLEET
mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.