Transportation provider Werner Enterprises Inc. has acquired First Enterprises Inc., a Tennessee-based, privately-owned dedicated trucking company, for $245 million. Separately, Omaha, Nebraska-based Werner will also pay $37.8 million to acquire a portfolio of 11 real estate properties from First Enterprises, which does business as FirstFleet.
According to Werner, the two moves establish it as the fifth-largest dedicated carrier in the U.S., meaningfully increase revenues from its higher-margin dedicated division, and deliver immediate accretion to earnings per share. FirstFleet will operate as a business unit within Werner’s TTS segment, complementing the existing Dedicated division.
FirstFleet brings $615 million in annual revenues, approximately 2,400 tractors, 11,000 trailers, and 37 properties near 130 customer sites around the country. The firm says its capabilities are designed to service markets such as grocery, bakery goods, and corrugated packaging.
In comparison, Werner in 2025 had approximately 7,365 total dedicated trucks and nearly 40,000 trailers. Today, Werner said that buying FirstFleet accelerates its recent efforts to grow its dedicated division, which offers high margins and long-term contracts. With the addition of FirstFleet, Werner expects to grow its dedicated revenues by 50% and become North America's fifth-largest dedicated carrier, as ranked by power units.
“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 dDedicated trucks, we will improve our competitive position and accelerate profitable growth,” Werner’s Chairman and CEO, Derek Leathers, said in a release. “We are confident that, with the addition of the FirstFleet team, Werner will be stronger and even better positioned to serve our loyal customers and capitalize on profitable growth opportunities as market conditions continue to improve.”