Daseke Archives - Maritime Shipping News

Daseke now part of TFI International as acquisition closes

3 April 2024

Flatbed operator Daseke ended its history as an independent trucking company Monday when its acquisition by Canada’s TFI International closed for $1.1 billion.

The acquisition by TFI (NYSE: TFII) was announced Dec. 22. The share price for the acquisition was $8.30, after closing at $4.91 on Dec. 21.

Daseke reported revenue of $1.57 billion in 2023. In 2016, revenue was $651.8 million.

The disappearance of Daseke from the list of publicly traded carriers follows that of such companies as U.S. Xpress

https://www.freightwaves.com/news/daseke-now-part-of-tfi-international-as-acquisition-closes

TFI International seeks to spin off Daseke in 2025

15 February 2024

TFI International seeks to spin off flatbed carrier Daseke in 2025

Canadian transport and logistics provider TFI International announced on its Q4 earnings call plans to spin off Daseke as a separate company sometime in 2025. Daseke has a fleet of around 4,500 tractors and 11,000 flatbed and specialized trailers and is the largest flatbed provider in North America. Describing the strategy that began with TFI acquiring Daseke in December 2023, Colin Campell of...

https://www.freightwaves.com/news/tfi-international-seeks-to-spin-off-daseke-in-2025

TFI buying Daseke for $1.1B, contemplating spinoff of truckload unit

22 December 2023

Serial acquirer TFI International announced Friday it will buy flatbed truckload carrier Daseke in a $1.1 billion transaction. TFI also said it’s exploring spinning off its TL unit into a separate publicly traded company.

TFI (NYSE: TFII) will pay $8.30 per share for Daseke (NASDAQ: DSKE), a 69% premium to Thursday’s closing price of $4.91. The price tag values Daseke’s equity at nearly $400 million, with the remainder tied to a $658 million debt load. If completed, the deal would be executed at...

https://www.freightwaves.com/news/tfi-buying-daseke-for-1-1b-contemplating-spinoff-of-truckload-unit

Daseke seeing ‘flight to safety’ as competitors exit

9 November 2023

Flatbed truckload carrier Daseke cut its 2023 outlook on Thursday but said it was hopeful rates would improve as the market becomes more balanced next year.

Third-quarter adjusted earnings per share of 12 cents were in line with the consensus estimate but 22 cents lower year over year (y/y). The result excluded 10 cents in items like acquisition and restructuring costs. However, higher interest expense due to rising interest rates and an increase in preferred dividend payments presented a...

https://www.freightwaves.com/news/daseke-seeing-flight-to-safety-as-competitors-exit

Daseke sees weak freight market for rest of 2023

4 August 2023

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Daseke Inc. officials said the freight market may have bottomed out in the second quarter, as the...

https://www.freightwaves.com/news/daseke-sees-weak-freight-market-for-rest-of-2023

Flatbed carrier Daseke says no ‘clear visibility’ into recovery, lowers 2023 outlook

9 May 2023

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Flatbed truckload carrier Daseke pointed to a lack of a seasonal uplift as the basis for lowering...

Flatbed carrier Daseke sees industry hitting new peak for rates in 2025

6 February 2023

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Management from flatbed truckload operator Daseke said it expects to see demand improve by the...

Buyout of founder changes Daseke’s capital structure; S&P lowers outlook

30 December 2022

The buyout of founder Don Daseke by flatbed operator Daseke Inc. has led S&P Global Ratings to shift its outlook on the company to “negative.”

The action by S&P Global Ratings (NYSE: SPGI) does not change the company’s actual debt rating, which was upgraded to B+ from B in August. However, a shift to a negative outlook from an upgrade in just four months is unusual.

But S&P analyst Geoffrey Wilson said the revised outlook to negative from stable has less to do with any change in S&P’s view of...

https://www.freightwaves.com/news/buyout-of-founder-changes-dasekes-capital-structure-sp-lowers-outlook

Daseke to buy out founder in $108M transaction

14 November 2022

Flatbed truckload provider Daseke said Monday that it will buy out founder and former chairman Don Daseke. An agreement to repurchase $107.6 million in stock from Daseke and his affiliates is expected to close “later this week.”

The carrier will use $40 million in cash on hand and issue more than 67,000 shares of preferred stock to execute the transaction. Daseke’s holdings represent 28.6% of the company’s total outstanding common shares. Daseke will resign from the board and he and his...

https://www.freightwaves.com/news/daseke-to-buy-out-founder-in-108m-transaction

Show-me story Daseke expects to perform through downturn

9 November 2022

Management from flatbed truckload provider Daseke said “capacity is booked solid” on a call discussing third-quarter results with analysts on Wednesday.

More than one-quarter of the freight the carrier hauls in its specialized segment was described as “noncyclical.” CEO Jonathan Shepko said calls are coming in from customers to “confirm capacity availability” for infrastructure-related projects and that the initial 2023 outlook for the manufacturing, construction and agricultural markets remains...

https://www.freightwaves.com/news/show-me-story-daseke-expects-to-perform-through-downturn

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