Nationwide trucker and third-party logistics services provider Schneider National said it will seek an initial public offering of its common stock next year.
Schneider National said it will seek an initial public offering of its common stock in 2017.
“The objectives of the planned transaction are to facilitate continuity of controlling ownership of Schneider by the future generations of the Schneider family, while continuing forward with its long-standing, independent, and professional, corporate governance structure,” the Green Bay, Wis.-based trucking and third-party logistics services company said in a statement Friday.
“This transaction will allow the company to continue its commitment to Wisconsin and the community, and to maintain and further investments in its long-term positioning,” Schneider added.
A registration statement relating to the common stock to be sold in the initial public offering is expected to be filed with the Securities and Exchange Commission.
In addition to its fleet of 51,500 truck trailers and intermodal containers, the company has invested millions of dollars annually into both systems and staffing to expand its supply chain and freight brokerage services. Schneider is also looking at growth opportunities in its liquid bulk transportation business, such as bulk food-grade products.
For more details about Schneider’s recent activities, read American Shipper’s August issue feature on the company’s expansion into third-party logistics services.
NEWS FLASH: Schneider National drives toward IPO in 2017
