Schneider National completes $390M acquisition of Cowan Systems, dedicated contract carrier

Schneider National, Inc.

Closed acquisition of Cowan Systems for ~$390M cash on Dec 2, 2024; financed via cash and new $400M delayed draw term loan.
Cowan operates ~1,800 trucks and 7,500 trailers across 40+ locations in Eastern and Mid-Atlantic US.
Deal includes complementary brokerage, drayage, and warehousing; real estate closure expected in Q4 2024.
Acquisition expected to be accretive to Schneider's EPS within first year, before synergies.
Cowan Systems' results to be reported in Schneider's Truckload and Logistics segments.

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