Transportation and logistics provider Werner Enterprises (NASDAQ: WERN) announced Thursday after the market close that it had acquired an 80% equity stake in ECM Transport Group for $142.4 million. The Omaha, Nebraska-based carrier has the option to purchase the remaining 20% of ECM after five years.
The ECM group of companies includes regional truckload carriers Cheswick, Pennsylvania-based ECM Transport, which operates a fleet of 450 trucks, and Motor Carrier Services of Pennsylvania, which...