Watkins & Shepard

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has been acquired by Schneider National Carriers, Inc. Logo

Founded in 1976, Watkins & Shepard with 20 terminals nationwide, 785 drivers and 780 trucks, offers truckload hauling and specialized LTL services for furniture, carpet, flooring and beverage shipments
Through a strategic partnership with Lodeso, Inc., a last mile provider, the company has emerged as a nationwide leader for first-to-last mile furniture transportation in the US, making it the partner of choice for e-commerce customers

By becoming a market leader in transportation for e-commerce, the company had experienced fast paced growth and wanted to find a partner to continue the company’s growth trajectory
The company had two shareholders – one wanted to find a partner for growth; and the other, non-active partner, sought liquidity
Cascadia was engaged to conduct a thorough analysis of the potential merger between Watkins and Lodeso and find an acquirer that could integrate the businesses while meeting both shareholders’ goals

Cascadia conducted an auction process with a small group of strategic buyers and a broader group of industry-focused private equity investors
Cascadia worked with Watkins’ CEO to make initial contact to potential acquirers, but quickly received preemptive interest from a few large strategic buyers
Cascadia closed the transaction with Schneider National, Inc., the largest private trucking company in the US
Combined with the scale and financial resources of Schneider, Watkins and Lodeso will be able to fully capture the potential of the rapidly growing e-commerce market for furniture and home goods throughout North America