Ryder System, Inc. (NYSE:R) completed the acquisition of Whiplash Inc. from DVSM, LLC and others for approximately $480 million.
January 31, 2021
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Ryder System, Inc. (NYSE:R) entered into an agreement to acquire Whiplash Inc. from DVSM, LLC and others for $480 million on December 11, 2021. The deal is subject to satisfaction or waiver of customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The transaction is unanimously approved by the Board of Directors of Ryder and the Board of Managers of Whiplash. The merger is expected to be consummated in late December 2021 or early January 2022.The deal is expected to be accretive to shareholders. Wofford Advisors LLC acted as lead financial advisor to Ryder and Peter Schnur, Thomas Cournoyer, Eli Helfgott, Kevin Bruno, Joe Gulant, Lisa Campisi, Stuart Kaplan, Bruce Eisenberg, Mary Ann Knoeckel, Jeremy Rist and Michael Kadlec of Blank Rome LLP acted as legal counsels to Ryder on the transaction. J.P. Morgan Securities LLC acted as exclusive financial advisor and Paul Hastings LLP served as legal counsel to Whiplash. Morgan Stanley (NYSE:MS) acted as financial advisor to Ryder System, Inc.
Ryder System, Inc. (NYSE:R) completed the acquisition of Whiplash Inc. from DVSM, LLC and others for approximately $480 million on January 1, 2022.
Ryder System, Inc. is a provider of outsourced logistics and transportation services. The Company provides supply chain, dedicated transportation, and commercial fleet management solutions. It operates through three segments: Fleet Management Solutions (FMS), which provides full service leasing that includes its contractual maintenance offering, commercial rental and maintenance services of trucks, tractors and trailers to customers principally in the United States (U.S.) and Canada; Supply Chain Solutions (SCS), which provides fully integrated port-to-door logistics solutions, including distribution management, dedicated transportation, transportation management, freight brokerage, e-commerce fulfillment, last-mile delivery, contract packaging, and contract manufacturing in North America, and Dedicated Transportation Solutions (DTS), which provides turnkey transportation solutions in the U.S., including dedicated vehicles, professional drivers, management, and administrative support.
RYDER SYSTEM, INC. 
