Top 100 U.S. law firm Akerman LLP represented ReedTMS Logistics in its sale to Werner Enterprises in a deal concluded on November 5th.
The purchase price was $112.4 million.
The Akerman team, led by partner David Doney of the Tampa office, included partners Zachary Kobrin, Robert Leapley Jr., and Bill Sullivan, of counsel Eamon O'Kelly, associates Chelsy Lutz and Josh Van Kirk, and paralegal Rosa Wong.
ReedTMS is a leading asset-based third-party logistics and truckload provider specializing in produce transportation across the U.S. through operating centers in Florida and Wisconsin and logistics branch offices in Alabama, Ohio, Pennsylvania, and Florida.
ReedTMS Logistics had revenues of $372 million for the last year, 90 percent of it from freight brokerage and 10 percent from trucking.
The company has more than more than 800 customers, with two-thirds of revenues in the attractive and stable food and beverage industries, and an extensive freight brokerage network with 89,000 active and approved carriers.
ReedTMS, headquartered in Tampa, was founded in 1996 by Mark Reed, Sr., the father of Jason Reed and Mark Reed, Jr., now respectively CEO and President.
Werner Enterprises, Inc. delivers truckload transportation and logistics services to customers across the United States, Mexico, and Canada. The company had 2021 revenues of $2.7 billion and employs more than 14,000 associates.
About Akerman
Akerman LLP is a top 100 U.S. law firm recognized among the most forward-thinking firms in the industry by Financial Times. Its more than 700 lawyers and business professionals collaborate with the world’s most successful enterprises and entrepreneurs to navigate change, seize opportunities, and help drive innovation and growth.
The Akerman Corporate Practice Group advises public and private companies, including private equity funds, on M&A, capital markets transactions, financings, and other transactional matters, with a strong focus on the middle market. Akerman is top-ranked nationally for mergers, acquisitions, and buyouts: middle market by The Legal 500 and is recognized as a leading U.S. law firm by U.S. News - Best Lawyers for corporate, M&A, private equity, securities/capital markets, securities regulation and banking and finance law.