The remaining 20% ownership interest in ECM Transport Group will be retained by Ed Meier, founder and President of ECM. Closing for the acquisition was completed today. Werner financed the transaction through a combination of cash on hand, existing credit facilities and a new $100 million fixed-rate term loan maturing in May 2024 with BMO Harris Bank N.A., one of Werner’s two lead banks.
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Werner shares our passion for delivering value and continually creating personal and professional opportunities for our accomplished team of professional drivers and non-driver associates,” said Ed Meier, President of ECM. We are standing by our existing customers and will continue to provide them with excellent service. “We are excited to join the Werner team and look forward to continued growth as we leverage our collective strengths to serve our existing and new customers at even higher levels. We look forward to welcoming the ECM team and working together to create additional value for our customers and shareholders.” Leathers continued, “Both companies believe deeply that our professional drivers are the backbone of our organizations.
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