M&A Deal Summary

FedEx Acquires Watkins Motor Lines

On May 16, 2006, FedEx acquired transportation company Watkins Motor Lines for 780M USD

Acquisition Highlights
  • This is FedEx’s 6th transaction in the Transportation sector.
  • This is FedEx’s 5th largest (disclosed) transaction.
  • This is FedEx’s 7th transaction in the United States.
  • This is FedEx’s 1st transaction in Florida.

M&A Deal Summary
Date 2006-05-16
Target Watkins Motor Lines
Sector Transportation
Buyer(s) FedEx
Deal Type Add-on Acquisition
Deal Value 780M USD
Advisor(s) Raymond James - Investment Banking (Financial)

Target

Watkins Motor Lines

Lakeland, Florida, United States
Watkins Motor Lines is nationwide LTL long-haul carrier and a subsidiary of Watkins Associated Industries. Known for its premium on-time service, the company has a workforce of approximately 10,000 and is one of a handful of trucking companies that has been consistently profitable since obtaining its transcontinental LTL operating authority in 1972.

Search 201,292 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

FedEx

Memphis, Tennessee, United States
Category Company
Founded 1971
Sector Transportation
Employees306,000
Revenue 87.7B USD (2024)
DESCRIPTION
FeDex's corporate headquarters in Memphis, Tennessee.
FeDex's corporate headquarters in Memphis, Tennessee.

FedEx is a global transportation and logistics company. FedEx provides a broad portfolio of transportation, e-commerce and business services through four segments. FedEx was founded in 1971 and is based in Memphis, Tennessee.

DEAL STATS #
Overall 7 of 22
Sector (Transportation) 6 of 19
Type (Add-on Acquisition) 7 of 20
State (Florida) 1 of 2
Country (United States) 7 of 10
Year (2006) 1 of 2
Size (of disclosed) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-09 Parcel Direct

New Berlin, Wisconsin, United States

Parcel Direct is a parcel consolidator based in New Berlin, Wisconsin.

Buy $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-18 ANC Holdings Limited

United Kingdom

ANC is a UK-based transportation company. It offers a range of distribution and logistics services with an established pick-up and delivery network across the UK.

Buy £120M
Mergr

Product

Company

Legal